In Property Consulting Group

House Bill 492 has taken effect as of January 1, 2020. The bill was co-authored by Rep. Gary VanDeaver and provides temporary tax relief for home and property owners in declared disaster areas.

To qualify:

Flooded Floor in House

A property has to be at least 15% damaged.

Has to be in areas declared a disaster by the Governor.

And the local taxing unit has to adopt the exemption.

The bill provides four levels of tax relief, based on the percentage of damage to the property. Those levels are the following:

  1. At least 15% of the property is damaged, but not more than 30%. Usually, the property can continue to still be used for its intended purpose. (15% exemption)
  2. At least 30% of the property is damaged, but no more than 60%. Only non-structural damage, and the waterline, if applicable is less than 18” above the floor. (30% exemption)
  3. At least 60% damaged but is not a total loss. The property has suffered significant structural damage, requiring extensive repair or the waterline is above 18” from the floor. (60% exemption)
  4. If the property is a 100% loss, meaning repair is not feasible. (100% exemption)

Property owners may apply for an exemption through their local appraisal district. In the case of Houston, Harris County Appraisal District. In the past there has been a process posted on the appraisal district website, we will update this news with a link once it becomes available.

If you need help lowering your property tax bill, we can help! Call today for help with property tax protests. Just make sure you reach out to us before the May 15th deadline. 281-880-6500

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