Click here for a printable version of our Homestead Exemption flyer. For more information, view a video covering Homestead Exemptions on our YouTube channel here.
The tax offices watch deed filings and update their tax records but as a new purchaser, you may need to notify the taxing authorities of your ownership in the chance that the deed filing is missed. You may do this by contacting the appropriate tax appraisal district in your county from the following list:
Tarrant County Appraisal District – 817-284-0024 – www.tad.org
Your property is assigned a single appraised value, which is sent to all taxing jurisdictions. The jurisdiction then applies the tax rate, as set by its governing body, to the appraised value.
In order to qualify for a residential homestead exemption you must provide the following to the Central Appraisal District when submitting your application:
A copy of the applicant’s Texas drivers license or Texas identification certificate.
IMPORTANT NOTE: The property address on the exemption application must match the address listed on the applicant’s Texas driver’s /Texas identification certificate; otherwise the Chief Appraiser is prohibited from approving the exemption.
**TAX EXEMPTIONS On January 1, value, ownership, legal description of the property and exemption status of the taxpayer is determined. Several forms of tax relief are available which may reduce the taxable value of your property. Applying for exemptions is the taxpayer’s responsibility. Some exemptions require a new application each year. Contact your appraisal district to learn more about the following exemptions and how to file for them:
• General Homestead Exemption • Over 65 Exemption • Disabled Individual Exemption • Disabled Veteran Exemption • Agriculture Land Exemption
TO RECEIVE YOUR EXEMPTION(S), YOU MUST OWN THE PROPERTY AND BE LIVING IN THE PROPERTY AS OF JANUARY 1ST. YOUR APPLICATION MUST BE APPLIED FOR ON OR BEFORE APRIL 30TH TO RECEIVE THE TAX BENEFITS FOR THIS YEAR, THIS IS A FREE SERVICE.
Remember, tax statements are generally mailed in October of each year. The taxes are payable on or after October 31st, however, you may elect to pay them as late as January 31st without penalty. Taxes become delinquent February 1st and on this date penalties and interest do accrue. If you receive a Tax Statement and your mortgage company is escrowing funds for taxes from your monthly payments, forward the statement to your mortgage company so that they can pay the taxes.
If the Central Appraisal District sends correspondence regarding your exemption, make sure to respond.
Republic Title of Texas, Inc. makes no express or implied warranty respecting the information presented and assumes no responsibility for errors or omissions.
We are thrilled to announce that we have been named the #2 𝗕𝗘𝗦𝗧 𝗣𝗟𝗔𝗖𝗘 𝗧𝗢 𝗪𝗢𝗥𝗞 for large size companies in 2020 by the Dallas Business Journal and the #7 Top Workplace for mid-size companies by the Dallas Morning News! This is the seventh year in a row that Republic Title has been named to both top workplace lists.
Whether you’re purchasing a new or existing home, or refinancing, title insurance protects you against any problems affecting the title to your home.
The Basics
There are two types of title insurance: the owner’s policy and the lender’s policy. The owner’s policy protects your property rights as the homebuyer, whereas the lender’s policy insures the financial investment of the bank or lender. If someone else claims ownership of your property or a lien on your property, title insurance typically defends you legally and financially.
Common Risks
Here are some examples of things that may affect title:
Liens against the property that serve as security for the payment of an obligation, such as mortgage liens, judgment liens for unpaid court judgments, federal tax liens, state and local liens for failure to pay real estate taxes or assessments, mechanic’s liens to secure payment for property improvements, liens for recovery of child support payments and so on.
Easements which are rights granted to a third party to use a part of your property for a specific purpose. An example is an easement to a utility company to have power lines running along the back of your property.
Building or use restrictions contained in recorded plats, agreements or deeds.
Claims arising out of bankruptcy or decedent’s estates.
These are just some of the many reasons why getting owner’s title insurance is crucial when buying or refinancing a home.
Refinancing?
When you refinance, you are obtaining a new loan even if you stay with your original lender. Lenders will usually require a new title search and lender’s policy to protect their investment in the property. A new owner’s policy is not necessary at this time as the one you received when you purchased the property is good for as long as you or your family own the property.
Enduring Value
Owner’s title insurance is a one-time fee based on the value of your home. In Texas, rates are based on the sales price of the property and set by the Texas Department of Insurance. You can calculate title insurance premium rates using the insurance calculator found on our website. With a home being one of the largest investments you’ll ever make, it’s clear why getting owner’s title insurance is a smart option.
The November 2020 DFW area real estate statistics are in and we’ve got the numbers! Take a look at our stats infographics, separated by county, with MLS area stats on each county report as well! These infographics and video are perfect for social sharing so feel free to post them!
To see past month’s reports, please visit our resources section here.
For the full report from the Texas A&M Real Estate Research Center, click here. For NTREIS County reports click here.
The T-47 affidavit is a document used in Texas residential real estate transactions that accompanies an existing survey. This video with Republic Title’s Janet Allen and Scott Rooker covers the following key points when a T-47 affidavit is provided:
i. Date of survey in paragraph 4
ii. Construction projects on adjoining properties predating title
New TREC contract changes were recently announced that will go into effect on APRIL 1st 2021*. This video with Republic Title’s Janet Allen and Scott Rooker covers changes including:
Changes to receipting of option fee
Additional definitions in contract including terms around smart home technology
New addendums including new addendum for fixtures
*Please note: changes were made to the effective date by TREC after the filming of this video.*
The October 2020 DFW area real estate statistics are in and we’ve got the numbers! Take a look at our stats infographics, separated by county, with MLS area stats on each county report as well! These infographics and video are perfect for social sharing so feel free to post them!
To see past month’s reports, please visit our resources section here.
For the full report from the Texas A&M Real Estate Research Center, click here. For NTREIS County reports click here.