(Fort Worth) — New and updated property tax is available now to assist taxpayers. This property tax information is current and covers a wide range of topics, such as taxpayer remedies, exemptions and appraisals, and has information for select groups, such as disabled veterans and persons age 65 or older. Whether you are a homeowner, business owner, disabled veteran or taxpayer, it’s important you know your rights concerning the property tax laws. You can contact the district about any property tax issues with full confidence that they will provide you the most complete, accurate and up-to-date information available to assist you. This includes information about the following programs.
- Property Tax Exemptions for Disabled Veterans – The law provides partial exemptions for any property owned by disabled veterans or surviving spouses and surviving children of deceased disabled veterans. Another partial exemption is for homesteads donated to disabled veterans by charitable organizations at no cost or not more than 50 percent of the good faith estimate of the homestead’s market value to disabled veterans and their surviving spouses. The exemption amount is determined according to percentage of service-connected disability. The law also provides a 100 percent homestead exemption for 100 percent disabled veterans and their surviving spouses and surviving spouses of U.S. armed service members killed or fatally injured in the line of duty.
- Certain Property Tax Exemptions – Non-profit organizations that meet statutory requirements may seek property tax exemptions and must apply to their local appraisal district by a specific date. Businesses that receive tax abatements granted by taxing units; ship inventory out of Texas that may be eligible for the freeport exemption; store certain goods in transit in warehouses that are moved within 175 days; construct, install or acquire pollution control property; own and operate energy storage systems; convert landfill-generated gas; or store offshore drilling equipment while not in use may also be eligible for statutory exemptions.
- Rendering Taxable Property – If a business owns tangible personal property that is used to produce income, state law states the business must file a rendition form with the district by a specified date. Personal property includes inventory and equipment used by a business. Owners do not have to render exempt property such as church property or an agriculture producer’s equipment used for farming.
- Property Taxpayer Remedies – This Comptroller publication explains in detail how to protest a property appraisal, what issues the Tarrant Appraisal Review Board (ARB) can consider and what to expect during a protest hearing. The publication also discusses the option to request limited binding arbitration to compel the ARB or chief appraiser to comply with a procedural requirement and the options of taking a taxpayer’s case to district court, the State Office of Administrative Hearings or binding arbitration if the taxpayer is dissatisfied with the outcome of the ARB hearing. The publication can be found on the Comptrollers website https://comptroller.texas.gov/taxes/property-tax/protests/index.php.
- Homestead Exemptions – A homestead is generally defined as the home and land used as the owner’s principal residence on Jan. 1 of the tax year. A homestead exemption reduces the appraised value of the home and, as a result, lowers property taxes. Applications are submitted to the district. The district has also launched their new online website feature that will allow homeowners to apply for the Residence Homestead exemption online. Visit the district’s website to learn more information https://www.tad.org/homestead-exemption/.
- Agriculture Appraisal – Property owners who use land for agricultural purposes or wildlife management can be granted property tax relief on their land. They may apply with the district for an agricultural appraisal which may result in a lower appraisal of the land based on production, versus market value.
- Property Tax Deferral for Persons Age 65 or Older or Disabled or Disabled Veteran Homeowners – Texans who are age 65 or older or disabled, as defined by law, or who qualify for a disabled veteran exemption may postpone paying current and delinquent property taxes on their homes by signing a tax deferral affidavit. Once the affidavit is on file, taxes are deferred, but not cancelled, as long as the owner continues to own and live in the home. Interest continues to accrue at 5 percent per year on the unpaid taxes. You may obtain a deferral affidavit at the district or on their website https://www.tad.org/resources/forms/.
- Protesting Property Market Values – Property owners who disagree with the district’s appraisal of their property for local taxes or for any other action that adversely affects them may protest their property value to the ARB. ARB information is available on ARB’s website https://www.tad.org/about/tarrant-appraisal-review-board/.
- Informal Meetings – Property representatives can request an informal meeting with the district to try and resolve their disputes prior to attending ARB hearings. Informal meetings can be done over the phone or by email. Call 817-284-0024 or email [email protected] (Residential), [email protected] (commercial) and [email protected] (Business Personal Property).
For more information about these programs, contact the district at 817-284-0024 or visit their website to learn more https://www.tad.org/ and watch their “Helpful Videos” series https://www.tad.org/resources/helpful-videos/. Information is also available on the Comptroller’s Property Tax Assistance Division’s website at https://comptroller.texas.gov/taxes/property-tax/.