IRS Problem

Main Menu

  • Home
  • Tax attorney
  • Tax law
  • Tax revenue
  • Tax government
  • Tax rate

IRS Problem

Header Banner

IRS Problem

  • Home
  • Tax attorney
  • Tax law
  • Tax revenue
  • Tax government
  • Tax rate
Tax law
Home›Tax law›Taxes, changes in tax legislation will follow the holiday season

Taxes, changes in tax legislation will follow the holiday season

By Sarah S. Bryant
December 9, 2021
0
0


NACOGDOCHES, Texas (KTRE) – One special legislative session after another has delayed releasing new information on tax law to chief assessors. As a result, taxpayers may not be aware of changes that could affect their tax returns.

The Grinch tries to put a stop to the holidays. If he doesn’t succeed, there are always property taxes to lower morale.

“The penalty and interest begin February 1. And it’s all over Texas. It’s one of those state laws, ”said Jason Malott, Acting Chief Assessor for Nacogdoches County.

These are state laws like those found in “Texas Property Tax Law Changes,” a book Malott and other state appraisers are expected to read and know.

“There were 35 pages of new laws that affect assessment districts or property taxes, one on the other. They are two different things, but they work hand in hand, ”said the 9-year-old evaluation district employee.

A law allows new homeowners who qualify for homestead exemptions to immediately qualify for property tax relief, instead of having to wait until January of the following year.

“These are the people who maybe bought a brand new house that they didn’t live in on January 1 under the old law, they wouldn’t get a property for that year. But as this law comes into effect. force, it will become pro-rated from the date they move in for the remainder of the year to become a pro-rated property going forward, ”explained Malott.

The result of a second law arrived in the mail months ago, but has been largely ignored, Malott said. It deals with tax transparency.

“The basic information on this postcard is a website they can go to and research what their potential taxes will be based on the tax rate they go through,” Malott said.

The idea behind this is to help homeowners budget taxes or to help them decide if a protest is in order.

This year, property values ​​have climbed statewide.

In Nacogdoches County, the total tax levy for 2021 is $ 75 million, which includes the city, county and all school districts.

“Just because the values ​​go up doesn’t mean the county or city is going to get more money,” Malott noted.

Tax rates are adjusted, up or down, to balance budgets.

Texas Chief Appraisers are still awaiting the second volume of “Texas Property Tax Law Changes.” These are the laws adopted during the third legislative session.

Copyright 2021 KTRE. All rights reserved.


Related posts:

  1. Some Potential Tax Law Changes You Can Expect – A Study by William D. King
  2. Trump tax law set to be a big winner in Biden’s $ 1.75 trillion social spending bill
  3. Illinois Online Sales Tax Law Hits As Online Purchases Rise | Chicago News
  4. Landlord Tax Law Changes to be Discussed at Kenosha Landlords Membership Meeting | Local news
Tagstax ratetax returns
  • Privacy Policy
  • Terms and Conditions