Texas City ISD
· DID YOU KNOW? A small percentage of school districts in the state still give a local Homestead Exemption to taxpayers and Texas City ISD is one of them. Most school districts have done away with the exemption to generate more local revenue. However, Texas City ISD has maintained the exemption, which is a benefit to taxpayers. Because of this, homesteads in Texas City ISD are not taxed at the full appraised value. Homesteads are taxed by the school district based on the appraised value minus the state homestead exemption, which is $40,000, and minus the local homestead exemption which is $5,000 or 20% of the appraised value, whichever is greater. Example: A home with an appraised value of $200,000 less the $40,000 state homestead exemption and the local homestead exemption of $40,000 is taxed on $120,000 (appraised value less state and local homestead exemptions). This is a great benefit to Texas City ISD taxpayers. Find out how the overall tax rate will not increase in the TCISD 2022 bond election. www.tcisd.org/bond22 #tcisdbond22
0 Comments
Leave a Reply. |