Nice but I'm surprised Illinois has Texas beat in vet property tax exemption. 70% & up get a full exemption in Illinois as long as the home value is under 800K in 2022.
Wow K D! I had no idea! My cousin just moved to Chicago, so I'll definitely be letting him know. Thanks for reaching out and teaching me something new! 👍🏻
@@DSLACA yes when it was 1st launched years ago it was 250K, Illinois factors inflation from than & raising market prices. For 2022 it's 800K search "Property Tax Savings for Veterans Cook county Assessor" on youtube.
I'm 100% p&t and my county here in Texas is not giving me 100% exemption on on my entire property. I live on a 17 acre ranch and they only exempt me 100% on the house and 1 acre. I get the $12,000 reduction on the remaining 16 acres.
Hi Matt P! Thanks for sharing about this. This is correct. The 100% VA disability exemption only applies to your residential homestead - in your case, the house plus the 1 acre. To get any further exemptions above and beyond the $12,000 that you're getting for the remainder of your property, you would likely need to purse some sort of agricultural exemption, if you qualify and have not already done so. I appreciate you taking the time to comment on my video!
So does it only go up to 1 acre for the exemption, or is it on a county by county basses ? I'm also 100% and in the process rite now with a lawyer with my partner of getting this exemption. However we will be moving out to another part of Texas from West Texas withen the next 2-5 years to another property this would be good info to know.
I’m 100% and I am contemplating to buy a house for my retirement house in Texas and will not renting it out. Am i still qualified for the tax exemption even I’m still living in other state. Thanks for the answer.
Rains County Texas absolutely does not honor the 100% property tax exemption for 100% permanent and total disabled veterans. As Pam at the tax office has repeatedly stated, she doesn't care, we're still going to pay property taxes. We had a hearing with the board members over the tax office and the representative from the tax office would not even listen to our position. Even when provided the text of the law that spells it out quite clearly. They claim the maximum exemption is based off the sliding scale of 0-100% so the max is 12,000 off the assessed value of just the house, not the ground it sits on or any other improvements to the property. The board claimed no knowledge of the situation and told us to take it up with Austin. EVERY tax office in Texas we have contacted does not assess property tax on 100% disabled Texas veterans, Rains Co seems to be the only one doing so.
This is true!! What I can't get a straight answer on is why are PIDs considered taxes, collected by the Appraisal District sent to your mortgage servicer yet we can't exempt the PID? When the Mortgage Servicer receives the annual PID notice as a tax; the PID can screw up your 100% exemption.
Thanks for checking out our video! So, in my efforts to try and help answer this question, all I can say is that there's not a hard and fast answer; however, this is what I've been able to ascertain. The exemption typically applies only to property taxes levied by local taxing entities such as counties, school districts, and municipalities. It does not automatically extend to Public Improvement District taxes. Because PIDs are special assessments rather than general property taxes, they are often treated differently under tax exemption laws. I recommend checking out the Texas Comptrollers Website and the Texas Governor's Website for more info.
Yes, I didn’t know and I also know that the state of Arizona sucks because they won’t give any tax exemption to any veterans no matter what you disabled status is.
My wifes father is 100% disabled and gets the exemption. Her parents now want to transfer the deed to my wife and her sister. Their lawyer says the exemption will still be available even though he no longer owns the property. We find this hard to believe and county tax office says no but they seem to be guessing ar best. Any thoughts?
Thanks for checking out our video! So, I am in no way attempting to give legal advice and I highly suggest that they consult an actual real estate attorney for the most accurate answer; however, in my experience and with everything I've read, the owner of record needs to be rated by the VA as 100% disabled in order to continue receiving the exemption. I hope this helps!
Hi Gabriela! Thank you for the question! This is a one and done thing until you sell and purchase a new property that you're claiming as your residential homestead. I hope this helps and thanks so much for checking out our channel!
Hi Carpe Diem! First of all, thanks for checking out our video! If you are currently rated 100% disabled by the VA, then your entire appraised value of your primary residence is exempt from property taxes. Since that is the case, my understanding is that a MUD tax would not be assessed as there is no assessed value to base the tax off of, hence no MUD tax. I always recommend double-checking all of this information against the state tax code here in Texas, but hopefully this helps answer your question.
I just stumbled on your video! This is great information. My situation is I am building my home and it's been a couple of years in construction. I am a disabled veteran but I have been paying the property taxes on the home during the construction. I have not occupied the home yet. Our home is almost finished. I have been paying the property taxes without the exemptions you mentioned. I wanted to know since I have been paying the property taxes on the home during the entire contruction build, do I qualify for these exemptions by showing my va disbility letter? Or do i have to wait to move in the home to claim? Also will i get back pay from the taxes that I previously paid?
Hey @jtcapital7994! First off, thanks for the kind words and for checking out our channel! We really appreciate it! To answer your question, you can't legally claim your exemptions until you occupy the home and can call it your "primary residence". As for the back pay, I'm afraid that's not a thing with our local tax office, unfortunately - at least not to my knowledge, anyway. As soon as you close on your home, though, be sure to fill out the tax exemption form and file for both your disabled veteran and homestead exemption. I hope this helped, and thanks again for checkin' us out!
Thanks for checking out our video! While I can't tell you what you would actually pay in taxes (this depends on the property tax rate in your county), with a disability rating of 80%, you would qualify for $12K off the tax assessed value of your home. In other words, if the county values your home at $400K, then you would only be taxed on $388K. I hope this helps!
I don't necessarily disagree. Hopefully some of these exemptions that are proposed will go through and a large majority of people will feel some relief. Thanks for your comment and for checking out our channel!
New to buying a home and everything that comes with it, but is there a certain time you have to file for this or can it be done as soon as you buy a home?
Hi Mark! Thanks for checking out our video and our channel! You used to have to wait to file until a certain time, but they changed this about a year ago, or so. Now, you can file for any exemption that you qualify for as soon as you're done closing on your new home.
Hi BigTings! Unfortunately not - at least in TX, anyway. The exemption can only be applied to a residence homestead of a disabled veteran. Thank you for the question! I really hope you enjoyed the video!
actually you can use your 100% exemption on 2 properties. On your actual primary homestead you would pay zero property tax in accordance with TX Tax code 11.131. Now, if you have a second property (non-primary residence) you can get up to $12,000 off in accordance with TX Tax code 11.22. They are two different parts of the tax code and have two different limits and two different application forms. I found this out only yesterday after I had already filed my 100% disabled vet exemption for my primary homestead months ago to pay zero property tax. The Tax people didn't even mention it to me that I could file for another property at the $12000 rate. I found that out by watching a random RUclips video and then called my tax office and they confirmed it was true. So, just today I went to the tax office and filed in person for the $12000 off my non-primary residence. They accepted it and said it should show in the tax record in about 30 days. This video @2:20 is where I saw the info: ruclips.net/video/_aT_3Pw-JQw/видео.htmlsi=iNwyWKPO68xDCgdu
Im 100 % and getting the property tax exemption. Now what is standard residential home exemption. I live in San Antonio in Bexar county. How do i file for this. Thank you
Hi Ron! Thanks for checking out our video! So, since you're already receiving the 100% disabled veteran exemption, there's really no need to file for your Homestead exemption; however, it doesn't mean you can't. If you want to file for this, just go to the Bexar County Appraisal District website, find the Homestead Exemption form, fill it out and send it in - either electronically, through the mail or take it in person. If you need help with that part, I suggest checking out my other video on how to file here: ruclips.net/video/DjBqO-vk0rw/видео.html I hope this helped!
Hello! First off, thanks for checking out our channel! So, once you've filed with the county appraisers office and it's reflected as an exemption with the county, you just need to let your mortgage lender know so that they can make the proper adjustments in your escrow account. Always double-check with your local county tax office for the most accurate info, but this should point you in the right direction.
Hi Joe! Thanks for the watching and for the question! My understanding is that you do not have to be P&T to receive the full exemption. You just have to provide documentation to your local county tax office showing your 100% rating form the VA. I hope this helps!
I’m a 100% disabled veteran. My mortgage company holds money for insurance and taxes. Since I am now exempt from taxes, does that mean my mortgage payment would decrease?
Not untill the next year because the mortgage company wont know unless you call and provide them with the proper doc sohowing the change. The county will send a zero tax bill at the end or around oct 2024 and that mortgage company will send you a check. Personally I canceld my escrow when I became 100%, I pay my morgage every month as well as the property insurance at the end of the year. My payments went from roughly 2400 to 1600 with out property tax... I would reccomend you just call and let you loan holder know... hope this helps
@choseniam9926 is correct. You need to contact your mortgage company and let them know and then provide any documentation necessary to the mortgage company and to your county's tax office. My apologies for the late reply to this discussion, but I'm super grateful for the small community that our channel has created in the short time we've been on here. 👍🏻
So if I get a $12,000 exemption does that mean I get $12k off what I owe in taxes each year or $12K off the total asset price of my property....example 300K house is taxed at 288K now instead of 300K? Just wondering and thinking of moving back to Texas!
Hi @DandyDan123! Your example would be correct - $12K off the appraised value of your home, so you would only be taxed on the $288K that was used in your example. Thanks for checking out our video and our channel! We really appreciate it! I hope you make it back to TX! 👍🏻
@@PRCPropertiesGroup thank you 😊. I find in cases like this, they just up the assessment value on those applicants to get around giving a discount. Sad! Laws need to change!
Hi Kirr He! First off, thanks for checking out our channel and watching our video! To answer your question, the tax benefits are only good for the property that you indicate as your primary residence, or "homestead" in the state of Texas. So as such, a vacation home would not qualify, unfortunately.
Hi Angela! Yes - you can definitely get your homestead and any VA Disability exemption that you qualify for. If you currently own a home that’s serving as your primary residence, I highly recommend you go ahead and file for those exemptions. If you need help, check out my video on how to file. Hope this helps and Happy New Year! 👍🏻
Interesting! I don’t think I qualify, but I’ll ask anyway. I’m 74 with 60% from the VA. I actually live in CA but own 5 rental properties in the Dallas area. Is there anything I can qualify for on this. The properties are in my IRA.
Afternoon and thanks for checking out our video! Sadly, you're correct in that your properties in Dallas won't qualify for the exemption. In order to qualify, it has to be your primary residence, or "homestead" as they make us call it. LOL! That's for the disabled veteran exemption. I would maybe make a call to the Dallas County tax office and see if you can qualify for the senior citizen exemption, if you haven't already. Not sure if the requirement is the same, but it's at least worth checking out.
Hi Jimmy! Thanks for your question and for checking out our channel! To answer your question, I'm actually not completely sure how they would handle that; however, if I were to make an assumption, I would say that the county would probably only go by your actual rating of 80%. My suggestion would be to call your local county tax office and ask them directly so you know for sure.
Unfortunately, they do not. But, you can combine your disabled veteran exemptions with the state homestead exemptions. If you haven't checked it out yet, go watch my video I did on the proposed tax changes that talk about how our homestead exemptions will change if TX residents vote to approve it in November. Here's the link: ruclips.net/video/8CvAgGKi1J8/видео.htmlsi=6bah80STnTDhckP8 Thanks for checking out our channel!
Question, My wife and I are both 100 p&t. We purchased our first home a year ago using my VA Entitlements ( not hers)I applied for the property taxes and got approved. We are currently looking to buy a second home and use her VA entitlement, my question is when it comes to Texas property, can we use my wife 100 t&p on this home to get the tax exemption? I will keep our first home and rent it out. Will this work? Thank you
Hey there! First of all, thanks so much for checking out our channel. We really appreciate it! The official answer to your question is that you are not allowed to use your tax exemption benefits on anything other than your "primary residence"; however, if you're currently doing that, you buy your next house and move into that one as your primary residence, I feel fairly certain that it will work - at least for a while. If they ever audit your files and find out that you are not living in the old house anymore, then expect that they will not only remove that tax benefit, but you might also be looking at back taxes. It's a risk, to say the least, but totally your choice on how to proceed. 👍🏻
Hi Judkins Park! Thank you for the question and for checking out the channel! As long as you are living in the home as your primary residence and you are on the actual Warranty Deed, my understanding is that you would qualify for the 100% tax exemption.
You can file for the normal Primary Residential Homestead exemption that every homeowner gets, but you would need to already possess a disability rating from the VA to qualify for the disabled veteran exemption. I hope this answers your question and thanks for checking out our channel!
Hello! Thank you for your easy explanation. I have a question and I hope you can answer it. We have been living in our current home for 3 years and change. We just applied for the veterans homestead exemption this year for this year and the last 3 years and we were approved. I guess I am wondering what next? Our taxes doubled over the years we have lived here and we just want to know if they will be lowered and that what amount? Should we be asking our lender?
Hi there! Thanks for checking out our channel! I don't have a real solid answer for you, but my best advice would be to contact your local tax office to find out what the difference in your taxes will be. Sorry I couldn't be of more help, but I wish you the best! If you have any other questions, I'm happy to help in any way I can.
Hi Andy! Unfortunately, it doesn't. The exemptions are meant only for the primary homestead/residence which requires the land to have a house on it that the veteran is occupying. I hope this helps and thanks so much for checking out our channel!
I'm not sure if the property tax benefits would extend for something like that, but I think it's worth you making a phone call to your local tax assessors office. If I had my way it would.
Nice but I'm surprised Illinois has Texas beat in vet property tax exemption. 70% & up get a full exemption in Illinois as long as the home value is under 800K in 2022.
Wow K D! I had no idea! My cousin just moved to Chicago, so I'll definitely be letting him know. Thanks for reaching out and teaching me something new! 👍🏻
Please send us a link to this information.
I'm still seeing EAV of 250k
@@DSLACA yes when it was 1st launched years ago it was 250K, Illinois factors inflation from than & raising market prices. For 2022 it's 800K search "Property Tax Savings for Veterans Cook county Assessor" on youtube.
In this video the Tax Assessor states 250k EAV between 70-100%. It was made a month ago from Cook County.
ruclips.net/video/gb1ONjYnIKM/видео.html
@@DSLACA in the same video he states the full exemption applies to properties worth less than 800K USD
I'm 100% p&t and my county here in Texas is not giving me 100% exemption on on my entire property. I live on a 17 acre ranch and they only exempt me 100% on the house and 1 acre. I get the $12,000 reduction on the remaining 16 acres.
Hi Matt P! Thanks for sharing about this. This is correct. The 100% VA disability exemption only applies to your residential homestead - in your case, the house plus the 1 acre. To get any further exemptions above and beyond the $12,000 that you're getting for the remainder of your property, you would likely need to purse some sort of agricultural exemption, if you qualify and have not already done so.
I appreciate you taking the time to comment on my video!
So does it only go up to 1 acre for the exemption, or is it on a county by county basses ? I'm also 100% and in the process rite now with a lawyer with my partner of getting this exemption. However we will be moving out to another part of Texas from West Texas withen the next 2-5 years to another property this would be good info to know.
So this is not true about 100% tax exemption in Texas ...
@@unomewell33payton34it is for me…I don’t pay 1 red cent in property tax. 100% P&T VA Rated.
I’m 100% and I am contemplating to buy a house for my retirement house in Texas and will not renting it out. Am i still qualified for the tax exemption even I’m still living in other state. Thanks for the answer.
Rains County Texas absolutely does not honor the 100% property tax exemption for 100% permanent and total disabled veterans. As Pam at the tax office has repeatedly stated, she doesn't care, we're still going to pay property taxes. We had a hearing with the board members over the tax office and the representative from the tax office would not even listen to our position. Even when provided the text of the law that spells it out quite clearly. They claim the maximum exemption is based off the sliding scale of 0-100% so the max is 12,000 off the assessed value of just the house, not the ground it sits on or any other improvements to the property. The board claimed no knowledge of the situation and told us to take it up with Austin. EVERY tax office in Texas we have contacted does not assess property tax on 100% disabled Texas veterans, Rains Co seems to be the only one doing so.
This is true!! What I can't get a straight answer on is why are PIDs considered taxes, collected by the Appraisal District sent to your mortgage servicer yet we can't exempt the PID? When the Mortgage Servicer receives the annual PID notice as a tax; the PID can screw up your 100% exemption.
Thanks for checking out our video! So, in my efforts to try and help answer this question, all I can say is that there's not a hard and fast answer; however, this is what I've been able to ascertain. The exemption typically applies only to property taxes levied by local taxing entities such as counties, school districts, and municipalities. It does not automatically extend to Public Improvement District taxes. Because PIDs are special assessments rather than general property taxes, they are often treated differently under tax exemption laws. I recommend checking out the Texas Comptrollers Website and the Texas Governor's Website for more info.
Yes, I didn’t know and I also know that the state of Arizona sucks because they won’t give any tax exemption to any veterans no matter what you disabled status is.
My wifes father is 100% disabled and gets the exemption. Her parents now want to transfer the deed to my wife and her sister. Their lawyer says the exemption will still be available even though he no longer owns the property. We find this hard to believe and county tax office says no but they seem to be guessing ar best. Any thoughts?
Thanks for checking out our video! So, I am in no way attempting to give legal advice and I highly suggest that they consult an actual real estate attorney for the most accurate answer; however, in my experience and with everything I've read, the owner of record needs to be rated by the VA as 100% disabled in order to continue receiving the exemption. I hope this helps!
Hello! thank you for breaking this down! I did have one question, is this done every year, or is this one time and done?
Hi Gabriela! Thank you for the question!
This is a one and done thing until you sell and purchase a new property that you're claiming as your residential homestead.
I hope this helps and thanks so much for checking out our channel!
Thank d for sharing this video my man
You bet! I’m glad you got some value out of it! 👍🏻
Hi. Do you happen to know if MUD taxes are also exempt for 100% disabled veterans?
Hi Carpe Diem! First of all, thanks for checking out our video!
If you are currently rated 100% disabled by the VA, then your entire appraised value of your primary residence is exempt from property taxes. Since that is the case, my understanding is that a MUD tax would not be assessed as there is no assessed value to base the tax off of, hence no MUD tax. I always recommend double-checking all of this information against the state tax code here in Texas, but hopefully this helps answer your question.
Great info
Thank you! We really appreciate you checking out our channel! 👍🏻
I just stumbled on your video! This is great information. My situation is I am building my home and it's been a couple of years in construction. I am a disabled veteran but I have been paying the property taxes on the home during the construction. I have not occupied the home yet. Our home is almost finished. I have been paying the property taxes without the exemptions you mentioned.
I wanted to know since I have been paying the property taxes on the home during the entire contruction build, do I qualify for these exemptions by showing my va disbility letter? Or do i have to wait to move in the home to claim? Also will i get back pay from the taxes that I previously paid?
Hey @jtcapital7994! First off, thanks for the kind words and for checking out our channel! We really appreciate it!
To answer your question, you can't legally claim your exemptions until you occupy the home and can call it your "primary residence". As for the back pay, I'm afraid that's not a thing with our local tax office, unfortunately - at least not to my knowledge, anyway. As soon as you close on your home, though, be sure to fill out the tax exemption form and file for both your disabled veteran and homestead exemption.
I hope this helped, and thanks again for checkin' us out!
@@PRCPropertiesGroup thank you
No property taxes in tx at 100% wowza. Come on georgiA!
Using a home value of 400000 , how much tax would a 80% vet pay ?
Thanks for checking out our video! While I can't tell you what you would actually pay in taxes (this depends on the property tax rate in your county), with a disability rating of 80%, you would qualify for $12K off the tax assessed value of your home. In other words, if the county values your home at $400K, then you would only be taxed on $388K. I hope this helps!
Te.xas taxes are still stupid high. This is hurting the housing market
I don't necessarily disagree. Hopefully some of these exemptions that are proposed will go through and a large majority of people will feel some relief.
Thanks for your comment and for checking out our channel!
New to buying a home and everything that comes with it, but is there a certain time you have to file for this or can it be done as soon as you buy a home?
Hi Mark! Thanks for checking out our video and our channel!
You used to have to wait to file until a certain time, but they changed this about a year ago, or so. Now, you can file for any exemption that you qualify for as soon as you're done closing on your new home.
Now i have a question im 100% can you use the exemption on 2 properties?
Hi BigTings! Unfortunately not - at least in TX, anyway. The exemption can only be applied to a residence homestead of a disabled veteran.
Thank you for the question! I really hope you enjoyed the video!
actually you can use your 100% exemption on 2 properties. On your actual primary homestead you would pay zero property tax in accordance with TX Tax code 11.131. Now, if you have a second property (non-primary residence) you can get up to $12,000 off in accordance with TX Tax code 11.22. They are two different parts of the tax code and have two different limits and two different application forms. I found this out only yesterday after I had already filed my 100% disabled vet exemption for my primary homestead months ago to pay zero property tax. The Tax people didn't even mention it to me that I could file for another property at the $12000 rate. I found that out by watching a random RUclips video and then called my tax office and they confirmed it was true. So, just today I went to the tax office and filed in person for the $12000 off my non-primary residence. They accepted it and said it should show in the tax record in about 30 days. This video @2:20 is where I saw the info: ruclips.net/video/_aT_3Pw-JQw/видео.htmlsi=iNwyWKPO68xDCgdu
Im 100 % and getting the property tax exemption. Now what is standard residential home exemption. I live in San Antonio in Bexar county. How do i file for this.
Thank you
Hi Ron! Thanks for checking out our video!
So, since you're already receiving the 100% disabled veteran exemption, there's really no need to file for your Homestead exemption; however, it doesn't mean you can't. If you want to file for this, just go to the Bexar County Appraisal District website, find the Homestead Exemption form, fill it out and send it in - either electronically, through the mail or take it in person. If you need help with that part, I suggest checking out my other video on how to file here: ruclips.net/video/DjBqO-vk0rw/видео.html
I hope this helped!
When does the exemption starts?
Hello! First off, thanks for checking out our channel!
So, once you've filed with the county appraisers office and it's reflected as an exemption with the county, you just need to let your mortgage lender know so that they can make the proper adjustments in your escrow account.
Always double-check with your local county tax office for the most accurate info, but this should point you in the right direction.
Do you have to be P&T to get the 100% Tax exemption?
Hi Joe! Thanks for the watching and for the question! My understanding is that you do not have to be P&T to receive the full exemption. You just have to provide documentation to your local county tax office showing your 100% rating form the VA. I hope this helps!
I’m a 100% disabled veteran. My mortgage company holds money for insurance and taxes. Since I am now exempt from taxes, does that mean my mortgage payment would decrease?
I'm interested in the answer to your question. I'm in the same for my mortgage company as well.
Not untill the next year because the mortgage company wont know unless you call and provide them with the proper doc sohowing the change. The county will send a zero tax bill at the end or around oct 2024 and that mortgage company will send you a check. Personally I canceld my escrow when I became 100%, I pay my morgage every month as well as the property insurance at the end of the year. My payments went from roughly 2400 to 1600 with out property tax... I would reccomend you just call and let you loan holder know... hope this helps
@choseniam9926 is correct. You need to contact your mortgage company and let them know and then provide any documentation necessary to the mortgage company and to your county's tax office.
My apologies for the late reply to this discussion, but I'm super grateful for the small community that our channel has created in the short time we've been on here. 👍🏻
So if I get a $12,000 exemption does that mean I get $12k off what I owe in taxes each year or $12K off the total asset price of my property....example 300K house is taxed at 288K now instead of 300K? Just wondering and thinking of moving back to Texas!
Hi @DandyDan123! Your example would be correct - $12K off the appraised value of your home, so you would only be taxed on the $288K that was used in your example.
Thanks for checking out our video and our channel! We really appreciate it! I hope you make it back to TX! 👍🏻
@@PRCPropertiesGroup thank you 😊. I find in cases like this, they just up the assessment value on those applicants to get around giving a discount. Sad! Laws need to change!
I’m in Maryland, can I use this benefit if I purchase a vacation home in Texas? Thanks.
Hi Kirr He! First off, thanks for checking out our channel and watching our video!
To answer your question, the tax benefits are only good for the property that you indicate as your primary residence, or "homestead" in the state of Texas. So as such, a vacation home would not qualify, unfortunately.
So if under 65 yo, can i still get standard homestead exemption and disabled person exemption if at 60%?
Hi Angela! Yes - you can definitely get your homestead and any VA Disability exemption that you qualify for. If you currently own a home that’s serving as your primary residence, I highly recommend you go ahead and file for those exemptions. If you need help, check out my video on how to file. Hope this helps and Happy New Year! 👍🏻
Interesting! I don’t think I qualify, but I’ll ask anyway. I’m 74 with 60% from the VA. I actually live in CA but own 5 rental properties in the Dallas area. Is there anything I can qualify for on this. The properties are in my IRA.
Afternoon and thanks for checking out our video! Sadly, you're correct in that your properties in Dallas won't qualify for the exemption. In order to qualify, it has to be your primary residence, or "homestead" as they make us call it. LOL! That's for the disabled veteran exemption. I would maybe make a call to the Dallas County tax office and see if you can qualify for the senior citizen exemption, if you haven't already. Not sure if the requirement is the same, but it's at least worth checking out.
What if you are 80% But granted TDIU permanent and total?
Hi Jimmy! Thanks for your question and for checking out our channel!
To answer your question, I'm actually not completely sure how they would handle that; however, if I were to make an assumption, I would say that the county would probably only go by your actual rating of 80%. My suggestion would be to call your local county tax office and ask them directly so you know for sure.
@@PRCPropertiesGroup Thanks. Okay
@@jimmieburnett8543 Yes, Texas & Michigan treats TDIU as 100% (u get the full exemption).
@@555125kevin Thanks for the info.
Do these benefits double if there are two veterans living inside of the homestead?
Unfortunately, they do not. But, you can combine your disabled veteran exemptions with the state homestead exemptions. If you haven't checked it out yet, go watch my video I did on the proposed tax changes that talk about how our homestead exemptions will change if TX residents vote to approve it in November. Here's the link: ruclips.net/video/8CvAgGKi1J8/видео.htmlsi=6bah80STnTDhckP8
Thanks for checking out our channel!
Question,
My wife and I are both 100 p&t. We purchased our first home a year ago using my VA Entitlements ( not hers)I applied for the property taxes and got
approved.
We are currently looking to buy a second home and use her VA entitlement, my question is when it comes to Texas property, can we use my wife 100 t&p on this home to get the tax exemption?
I will keep our first home and rent it out. Will this work?
Thank you
Hey there! First of all, thanks so much for checking out our channel. We really appreciate it!
The official answer to your question is that you are not allowed to use your tax exemption benefits on anything other than your "primary residence"; however, if you're currently doing that, you buy your next house and move into that one as your primary residence, I feel fairly certain that it will work - at least for a while. If they ever audit your files and find out that you are not living in the old house anymore, then expect that they will not only remove that tax benefit, but you might also be looking at back taxes. It's a risk, to say the least, but totally your choice on how to proceed. 👍🏻
Thats trivial
100 percent tax reduction is trivial? Not for me it isn't. You should probably stop drinking.....
What if you are 100% but co own the property with someone that is not your spouse?
Hi Judkins Park! Thank you for the question and for checking out the channel!
As long as you are living in the home as your primary residence and you are on the actual Warranty Deed, my understanding is that you would qualify for the 100% tax exemption.
Does active duty have an exemption?
You can file for the normal Primary Residential Homestead exemption that every homeowner gets, but you would need to already possess a disability rating from the VA to qualify for the disabled veteran exemption. I hope this answers your question and thanks for checking out our channel!
Hello! Thank you for your easy explanation. I have a question and I hope you can answer it.
We have been living in our current home for 3 years and change. We just applied for the veterans homestead exemption this year for this year and the last 3 years and we were approved.
I guess I am wondering what next? Our taxes doubled over the years we have lived here and we just want to know if they will be lowered and that what amount?
Should we be asking our lender?
Hi there! Thanks for checking out our channel!
I don't have a real solid answer for you, but my best advice would be to contact your local tax office to find out what the difference in your taxes will be. Sorry I couldn't be of more help, but I wish you the best! If you have any other questions, I'm happy to help in any way I can.
Dose that include land? Or just home
Hi Andy! Unfortunately, it doesn't. The exemptions are meant only for the primary homestead/residence which requires the land to have a house on it that the veteran is occupying. I hope this helps and thanks so much for checking out our channel!
@@PRCPropertiesGroup what if it used as land for vets to get past there troubles
I'm not sure if the property tax benefits would extend for something like that, but I think it's worth you making a phone call to your local tax assessors office. If I had my way it would.