Winter Storm Disaster Temporary Value Exemption
I want to introduce you. Did you did winter storm disaster. There are temporary value exemptions for your property. So let’s go ahead and take a moment and discuss what this means. We had a winter storm come up recently. I sure did. Yes, we did. A doozy over here on this screen. We’re going to share off what’s going on. So Collin County, this is the local one. There are one for each of the different sites as well. If you live in a different, different area, then this would be available for you across the state of Texas.
And showing this off here, let’s see, we have the Collin County appraisal district. Did your property sustain damage during the winter storm? If yes, then we can continue to make a lot of probably you don’t need this if the answer is no. Right. Right. So luckily, you got to avoid it. So if you ask let’s continue on. You may qualify for this property tax exemption, not income tax. Right. That sales tax, but property tax.
That’s for your home where you happen to live. Here we talk about real estate brokers, that’s what we do every day. So if we go over here now, you had to have had at least 15 percent. Damaged, OK, there’s a deadline, there’s e-mails, there’s forms we’re going to chat this whole thing in now, depends how much damage rating you had, what the percentage of damage is, what’s going on and how much you can have. Was it a total loss? Is it as much as 15 percent? Does it go all the way up?
So document everything should be documented, every detail documented.
And for those numbers, people out there, let’s go ahead and take a look at this. If you have one hundred thousand dollar home. Then I don’t know if you actually live in Collin County, home prices have been going up like crazy around here, but they’re talking about the value that you’re taxed based upon. OK, so in this example, if you have one hundred thousand dollar home and you have twenty thousand dollars damage because you had burst pipes, right. Then we had 20 percent damage in this particular situation, which exceeds the 15% minimum threshold. Understood. Yeah. Sound good.
Now we have a damage rating of level one. We go up to this chart up above and we can refer to that. So we would scroll back up here looking at between 15 and 30 percent and we’re good to go. So now what we’re going to end up doing is receiving an exemption based on our property tax amount. And we’ll go ahead and do the calculations here and you’ll end up having the savings on the property taxes. Now, it’s only a short term thing. You’re going to have your home fixed. It’s one year. It’s whatever it is. But now you have that and now you have the form. OK, so we will have this all posted for you.
And that’s very helpful. Yeah. You know, it saves a little bit.
I agree, yeah, I totally agree. I spent a lot of damage, and if that’s happened right, then I kind of think you you deserve that. Yeah. So only makes sense. Go ahead. We’re going to put that down in the description just below your wife. And if you’re scrolling through, slammed the like button. If you think this is good here and it could help something, somebody out. Go ahead and give it a share. Right.
Think about some of your clients. Maybe they moved in last year and then they sustained some damage, you know, reach back out to them and try to, you know, help them and give them this information. So they’re aware.
Sure. You have a friend or family member, whatever it happens to be, that happened to go ahead and share it. And then if you decide that it’s the right time to either sell or move, do anything different, we’re going to be here for you, especially if you have that hundred thousand dollar home. We’re going to be here for you. Absolutely. Absolutely. No, it doesn’t really matter what the price point is. It starts with good people.
People ask me that a lot and it doesn’t. We treat everybody the same.
When we started, we were star agents. And what that meant is actually you were the one that went all over the map. And we would take anything that kind of came on all types of weather, I’ll tell you. And that’s how you learn, right? Well, I learned a lot. Thank you very much. Let’s close that topic.