MCLENNAN COUNTY, Texas — It’s time for homeowners to get their property tax bills in the mail. If that amount is higher than you thought, there are some simple steps you can take to save money.
Homeowner Brian Coates explains that as property values rose, the tax increase gradually became a shocking reality. House Realty says some homeowners are eligible for the homeowner’s exemption but don’t know it, which could save them thousands of dollars. The McLennan County Appraisal District said there is no deadline for applying for a homestead exemption.
Broadcast transcript:
“Even though property values have gone up significantly, this is a huge shock to many families, not just mine,” homeowner Brian Coates said.
Some Central Texas residents have made their tax bills public, but some aren’t seeing the numbers they’re happy with.
“This is becoming a significant expense,” Brian Coates said.
But Brian Coates is one of the lucky ones. Coates said a local broker told him he was keeping the money by not applying for the homestead exemption, which could save him thousands of dollars.
The owner of House Realty said, “It’s like free money and they deserve it. Yes, they deserve it and it applies to them, but everyone knows…” “There is no such thing.”
“You’d be surprised how many people are eligible for a homestead exemption but don’t have it.”
Your 2024 property taxes are due by the end of January 2025, so there’s still time to apply for a homeownership tax exemption.
“If someone is paying, or their bill says $4,000, by the start of January, as long as the assessment district has processed the homestead exemption, they will have to pay the amount they owe after the exemption. “You’re going to have to pay a lot of money,” Duncan said.
You can pay less or get a refund, like Coates, who received a $2,000 refund check, which he says is a significant amount for a family.
“We’re a pretty budget-conscious family in general. We have three kids, one of whom is in college, so we keep an eye on our pennies,” Coates said.
Now he’s sharing his story to show others there are ways to alleviate that sticker shock.
“I think our journey has shown us that there are options, you just have to look into them and put in the time and effort,” Coates said.
Duncan said if you qualify for the homestead exemption, it will apply retroactively and you can get your money back starting in 2023 and 2022.
Here are important dates to know:
You will receive notification of the taxable value in April. Protests must be filed by May 15th.
Your property tax bill will arrive on October 15th. 2024 taxes are due by the end of January 2025. According to the McLennan County Appraisal District, there is no deadline to apply for the residential property exemption.
Follow Dominic on social media!
More stories from Dominic Ley
