CIRCUIT BREAKER LIMITATION
Beginning in 2024, real property valued at $5 million or less will benefit from a 20 percent limitation on the net appraised value of the property used to calculate property taxes. Each property that qualifies will receive a Notice of Appraised Value, typically in April, that specifies the market value of the property as of January 1. These properties will also have a net appraised value that will be the lesser amount of:
- last year’s net appraised value plus 20 percent OR
- this year’s market value.
You must own the property for at least one full calendar year (January through December) before you are eligible for a 20 percent limitation. Properties already receiving a homestead exemption are not eligible and will continue to receive the standard 10 percent limitation on their net appraised value. Should you sell your property, the limitation will be removed and the tax base will increase to the property’s current market value until the new owner is eligible for the same benefit.
The Texas Legislature has currently only authorized the circuit breaker limitation for the 2024, 2025, and 2026 tax years.
You are not required to submit an application to receive a circuit breaker limitation. The appraisal district will automatically apply and calculate these benefits every year.
| NEW HOMESTEAD EXEMPTION APPLICATION RULES – Thursday, May 08, 2014
Beginning September 1, 2013, individuals seeking to apply for a Residence Homestead Exemption will need to comply with a new application process. Applicants must provide a copy of their valid Texas driver’s license or Texas state-issued identification card with their application. The address on these documents must correspond to the address of the property for which you are applying.
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| YOUR AGRICULTURAL APPRAISAL AND THE DROUGHT – Thursday, May 08, 2014
Section 23.522 of the Texas Property Tax Code states that the eligibility of open-space land does not end during temporary cessation of agricultural use during a drought. Your land can continue to qualify for open-space agricultural appraisal if the governor declares a drought and the land remains out of production for an extended period, as long as you intend to return the land to its pre-drought level of agricultural intensity. In most cases, the appraisal district will not remove the agricultural appraisal on any property that is currently receiving it. The absence of livestock or hay production will not trigger the removal. Depending on how long the drought lasts will determine what approach will be taken next year.
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| OPEN RECORDS REQUESTS – Thursday, May 08, 2014
Any requests for information from the Austin County Appraisal District must be made in writing. Go to TAX INFORMATION and FORMS on this website for an Open Records Request Form. Please be very specific in your request so that the information that we provide to you is accurate. Most requests will be completed within 10 business days from receipt of the request form. Applicable fees will apply. The Open Records Fee Schedule is also located on this website under TAX INFORMATION and FORMS .
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