Over 65 Exemption

Over 65 Exemption


Form 50-114 - Over 65 Exemption (Tax Code 11.13(c) exemption):
Qualifications: 
  1.   Must own and occupy property
  2.    Need copy of Texas Driver License or Texas ID with matching situs
  3.   Eligible the year they purchase the property and at least one owner is 65
  4.    If they are transferring the OA from a different county, they need to provide a TCTC (Tax Ceiling Transfer Certificate) from their previous Appraisal District.
  5.  A person who qualifies for the Over 65 exemption and Disabled Person exemptions may receive both exemptions if they are placed on separate taxing entities.

Benefits

      Reduces the taxable value for the school district, Williamson county, some cities, and some MUDs.

Refer to the Exemptions Granted by Jurisdictions chart for specific exemption amounts granted by each entity.

o   All school districts grant an exemption amount of $60,000 OA

                      o   Williamson County grant an exemption amount of  $125,000 for OA
Info
Freezes the dollar amount that the PO pays for the school, county, and road taxes which will create a Tax Ceiling amount

  1. This does not freeze the Market Value, Assessed Value nor Tax Rates.

Deadline

  1. The Texas Property Tax Code allows you to go back 2 years back before the delinquency deadline of January 31st.

New Improvement Value

  1. If you have either the Over 65 or Disabled Person exemption, the freeze will be adjusted due to the added structure or land value only in accordance with the Texas Property Tax Code, Section 11.26(b)
Over 65 Surviving Spouse
  1. Must own and occupy property
  2. Need copy of Texas Driver License or Texas ID with matching situs
  3. Need copy of death certificate unless already provided
  4. The deceased spouse died in a year in which the deceased spouse qualified for the exemption.
  5. The surviving spouse was 55 or older when the deceased spouse died
  6.  The property was the residence homestead of the surviving spouse when the deceased spouse died and remains the residence homestead of the surviving spouse
Benefits
  1. Surviving spouse retains the freeze amounts from their deceased spouse

Application

·       On our website wcad.org within the property search. Enter name, address, or REF ID to pull up property. Click HS exemption icon.

·       On comptroller’s website https://comptroller.texas.gov/  Enter 50-114 into search.



When the tax bills are calculated to include all exemptions, the dollar amounts paid for participating Over 65 (mandatory and local option) taxing entities will create a tax ceiling.


To view the Exemptions by Jurisdiction or wcad.org; ‘Forms and Applications’; ‘Other Forms’


Questions concerning your tax ceiling amounts should be directed to the Williamson County Tax Assessor Collector’s office. They can be reached at 512-943-1601.