| One of the largest expenses for a home owner, after of course your mortgage is your property tax. Many owners don’t realize they should be filing for their applicable exemptions such as the Homestead, over 65, or Disabled Veteran exemptions, and with many taxable properties being over assessed, it is likely you are paying more than you need to be! | |||||
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As an example here are 4 properties. One has an over 65 (OV65) exemption in addition to the homestead exemption (HS). | ||||
The amount of tax that the owner at 9307 Main pays is 0.803% less than the owner at 9315 Main. The owner of 9314 Main is renting the property, when they sell, they will be assessed additional taxes for all the years they were not living in the property.
So in fact, they would be paying 0.931% more in taxes than the owner of 9307 Main.
Because the owners of 9311 Main is a disabled veteran, they do not pay Bexar taxes at all.
9307 Main HS/OV65 2107SF $2793.56 / $158048
=1.767%
9315 Main HS 2104SF $4161.41 / $161920
= 2.57%
9314 Main non-owner occupied 1602SF $3728.35 / $138160= 2.698%
9311 Main DV4S, DVHSS, HS, OV65 2465SF $0/$190509=0%
Another property owner in Bexar County contacted me and inquired about the value of his home.
After reviewing his 2015 BCAD tax assessment I discovered that he had not filed for his homestead exemption.
BCAD had raised his assessment from $65770 in 2014 to $78690 for 2015. The home owner has owned this home since 2006 and after filing for the exemption will most likely pay about 5% less in taxes and get a refund for most likely the last 2-3 years!
You need to look for any mistakes that have been made in your properties assessment in both the footage and number of rooms on record.
Finally, Make sure you know what exemptions have been filed on your property and protest your taxes regardless if you are paying taxes or not!
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