The McLennan County Appraisal District has hired a law firm, LGBS, to audit their database for properties that have undeserved Homestead Exemptions. There are 2 primary targets:
1 – If you own multiple properties, and may have Homestead Exemptions on both
2 – If the owner is over 65, and may also be deceased, but the estate still benefits from exemptions
The MCAD office explained that some property owners have moved to a new primary residence and are benefiting from the exemptions at their new address. The McLennan County office has yet to reconcile and remove the exemptions applicable for a primary residence for the original property, now being used as a rental or 2nd home, or possibly sitting vacant.
They also discovered several properties where the homeowner was deceased, but the property was still receiving the discounts for the home as a primary residence.
The office also noted that if a home owner has not applied for their Homestead Exemption in the last 5 years, they should also consider sending in an updated application.
If you find yourself, or an estate you manage is now subject to higher property taxes that make maintaining the property financially unreasonable, Waco Home Team offers pre-listing concierge services helping you prepare the home for sale, and an incredibly extensive and effective marketing plan. It is still a great time to sell! Call us today!
HOMESTEAD EXEMPTION FORM – CLICK HERE
Team Leader, Broker-Associate, GRI, ePRO