MCLENNAN COUNTY, Texas — It's that time of year when homeowners are getting their property tax bills in the mail. If that amount is higher than you thought, a simple process could help save you some money.
- Homeowner Brian Coats explains that property values have increased leading to a gradual and shocking realization of a growing tax bill.
- Haus Realty said several homeowners qaulify for a homestead exemption, and they don't even realize it, which could save people thousands of dollars.
- McLennan County Appraisal District said there is no deadline for applying for the Homestead Exemption.
BROADCAST TRANSCRIPT:
“Even though property values have gone up a lot, it’s sticker shock for not just my family but many families,” said homeowner Brian Coats.
Some Central Texans are opening their tax bills and not seeing numbers to their liking.
“This is getting to be a significant expense,” said Brian Coats.
But Brian Coats is one of the lucky ones. Coats said a local broker informed him he was leaving money on the table by not applying for a homestead exemption that could save him thousands.
“It’s like free money, and they deserve it," said the Owner of Haus Realty. "Truly, they qualify for it, and it applies to them, but not everybody knows."
"You’d be surprised how many people qualify for a homestead exemption but don’t have it.”
2024 property taxes are due by the end of January 2025, so you still have time to apply for a homestead exemption.
“If somebody is paying, or if their bill says $4000, by the time January rolls around, as long as the appraisal district has processed that homestead exemption, then they will be paying the amount due after the exemption,” said Duncan.
You could either pay less or get a refund, like Coats, who received a $2,000 refund check, which he says is huge for his family.
“we’re a pretty budget-conscious family in general. We have three kids, a kid in college, and we watch pennies in general,” Coats said.
Now, he’s sharing his story to show others there are ways to reduce some of that sticker shock.
“I think our journey has shown us that there are options out there; it’s just gonna be a matter of looking them up and putting in the time and the work,” said Coats.
Duncan said that if you qualify for your homestead exemption, it applies retroactively so that you can get money back from 2023 and 2022.
Here are some important dates you need to know:
You receive your notice of taxable value in April. You have until May 15th to file a protest.
You get your property tax bill on October 15th. Your 2024 taxes are due by the end of January 2025. McLennan County Appraisal District tells me there is no deadline to apply for the homestead exemption.
