Cameron County real estate agents are pushing for homestead exemptions
March 26 – Only have a minute? Instead, listen Cameron County real estate agents are pushing for public housing tax exemption events in an effort to educate the public about the tax exemption available for eligible homeowners. The first event will be held on April 10 at the Brownsville Board of Realtors, 1825 Central Blvd., and the second on April 17 at the Port Isabel Event & Cultural Center. The third is on April 24 at the Harlingen Public Library, 410 76 Dr., from 10 a.m. to 6:30 p.m., with staff from the county Tax Assessor-Collector’s Office present to assist in filing the homestead exemption. Tony Yzaguirre Jr., county tax assessor-collector, said over $5.5 million in relief has been distributed to 4,064 county taxpayer accounts so far, an average of $1,300 per account.
Published : a month ago by The Bharat Express News in Finance
March 26 – Only have a minute? Instead, listen
With the passage of a constitutional amendment last November that more than doubles the state’s tax exemption, there is more reason than ever for eligible homeowners to take advantage.
However, many homeowners in Cameron County do not do this, although the Brownsville, Harlingen and South Padre Island Boards of Realtors have worked with the county Tax Assessor-Collector’s Office to address this fact.
Public housing tax exemption events are scheduled for three consecutive Wednesdays next month. The first event will be April 10 at the Brownsville Board of Realtors, 1825 Central Blvd., from 9 a.m. to 6:30 p.m.
The second is scheduled for April 17 at the Port Isabel Event & Cultural Center, 309 Railroad St., from 9 a.m. to 6:30 p.m. The third is on April 24 at the Harlingen Public Library, 410 76 Dr., from 10 a.m. to 6:30 p.m.
Assessor’s office staff will be present at all three events to assist county residents in filing the homestead exemption, in addition to exemptions in the Disabled, Disabled Veterans and Older Over 65 categories, if eligible.
Tony Yzaguirre Jr., county tax assessor-collector, gave a presentation on the joint project between his office and the Boards of Realtors during the commissioners court’s regular meeting Tuesday. Commissioners approved a resolution in support of these efforts, which was read at the meeting by District Judge Eddie Treviño Jr., who encouraged property owners to participate and thanked the Boards of Realtors for organizing the events.
The homestead exemption amendment in Proposition 4, which was overwhelmingly approved by voters in November, increased from $40,000 to $100,000 the taxable value of a primary residence protected from taxation by Texas school districts – providing a significant tax benefit for in eligible homeowners.
Carly Thomas, former president of the Harlingen Board of Realtors, told commissioners at Tuesday’s meeting that she approached Yzaguirre last year about partnering with his office.
“I knew the homestead exemption increase would be implemented in November,” she said. “I was super excited about it and I felt like not enough people knew about it. We hosted it on November 28 in our little Board of Realtors office.”
Thomas said 120 people showed up and ultimately all were given the waiver.
“It just snowballed from there, and we got three different Board of Realtors offices involved and we’re super excited to be educating the public about this homestead exemption,” she said. “So many people don’t know what it is.”
Yzaguirre told commissioners that more than $5.5 million in relief has gone to 4,064 county taxpayer accounts to date, an average of $1,300 per account.
“We are making a huge dent in the homestead exemption, and I would like to personally thank all the Estate Agents’ Councils for their help,” he said.
Committee Sofia Benavides commended the efforts of the broker boards and Yzaguirre’s office.
“Since you brought this to light, I know a lot of people have benefited from it,” she said. ‘But I really feel like we still have a lot of reach in the rest of the province. But I applaud you for bringing it to light.”
Yzaguirre, also a member of the county assessment district board, said the board has hired a law firm to conduct an audit of exemptions for farms across the country. It will reveal, among other things, how many and which county residents have signed up – whether eligible or not. This will be the second such audit to be conducted, he said.
“It’s something that’s necessary because the last time we did this was three years ago, maybe four,” Yzaguirre said. “We found many errors and/or many people did not use this specific exemption.”
He said he is also working with Senator Morgan LaMantia to introduce a bill in the Legislature that would make it mandatory for title companies to give homebuyers the opportunity to file for a homestead exemption before closing, and to follow up on this.
“We’ll work on that next year,” Yzaguirre said.
Treviño encouraged residents to take advantage of the tax exemptions available to them, but also said the audit will also shed light on property owners who have applied for an exemption for their farms despite not qualifying for it come.
“Certain individuals, believe it or not, may not qualify for these exemptions and yet they try to take advantage of them,” he said. “We want everyone who is eligible to take full advantage because that is their right. But those who are not eligible and are trying to take advantage, we will look at that as well.”
For more information, call the Cameron County Tax Assessor-Collector’s office at (956) 589-7089 or the call center at (956) 544-0800.
Topics: Real Estate