Prop 1 will save you money by increasing your homestead exemption from $15,000 to $25,000. This is great news for Texas homeowners because it lets you keep more of your hard-earned money. Prop 1 also helps seniors and people with disabilities by giving them much-needed tax relief, and providing them a lower property tax cap, […]Continue Reading →
Ok, it’s been a couple years since you bought your home and now you are considering a move. Don’t forget that tax credit you probably took back when you bought the property. Yes, you have to repay it if you sell or convert your home into a rental. There is no easy way around it, […]Continue Reading →
While it is true that there is a 3.8% tax on profits from the sale of real estate over the capital gains threshhold, it is not true that it imposes a tax on all home sales.
Much of the information that is being cast around the internet email world is mis-quoting the issue, and so […]Continue Reading →
An agricultural appraisal lowers the taxable value of land. The lands agricultural valuation is based on its general capacity to produce crops, livestock, wildlife or timber rather than its value on the real estate market. In order to determine what the savings is for an ag exemption, you need to know the market value of the land and […]Continue Reading →
RISMEDIA, March 16, 2011—With a little more than one month before income taxes are due, many of the nation’s 75 million homeowners may be appreciating the value of homeownership just a bit more as they take advantage of the tax benefits of homeownership.
“Owning a home offers myriad benefits throughout the year, but some of […]Continue Reading →