Property Tax – What is Homestead, Dallas and Austin Names the best City in US for Jobs

 

 

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www.dreamcastlerealty.com

BALGOVIND PANDEY / BHARTI MISHRA

Email: govind.smarthomes@gmail.com

Phone : 940-231-3059/510-364-8072

Web : https://www.dreamcastlerealty.com

The best Investment on Earth Is Earth – Louis Glickman

May 2018 Vol 201805-3

 

Spring Maintenance List

Time to tune in your HVAC

Have a qualified heating and cooling contractor clean and service the outside unit of the air conditioning system

Check your roof and Gutters

Clean up your gutters for any fall and winter debris. Check your roof to inspect any missing shingles

 

Check your Lawn Watering Schedule

Time to turn on those sprinklers and check your lawn watering schedules and adjust them

Check for any broken sprinker heads and replace those

Clean up your windows and screen

Time to get those windows and screens dusted up

Replace Smoke detector batteries

Time to change the smoke detector batteries and check the smoke detectors

Prepare your Lawn equipment

Time to clean up , oil and prepare your lawn equipment for spring mowing

 

What is homestead Exemption in Texas. How does it

influence property taxes

Homestead Law protects the primary home by providing for right of occupancy

From ad valorem taxation point of view, a certain portion of the appraised value of a principal residence is excluded from the taxable value. Filing an Homestead Exemption does provide some relief from property taxes for residents of Texas

Filing Homestead also protects from forced sale from creditors and judgments.

Even an abstracted judgment lien will not attach to a homestead property as long as the property retains its homestead character.

The right to occupy the homestead extends to all family members who continue to occupy it, including those who occupy the property after the owner’s death. This protection applies to  1) a spouse 2) a surviving spouse 3) minor children (and in some circumstances their guardian) 4) unmarried children.

Homestead rights commence when the owner uses the property as a homestead

An owner who owns multiple properties may wish to establish which of the properties is the homestead. A lender may require a borrower to designate which property is and is not a homestead as a condition of the loan

Property remains a homestead until death, abandonment, or sale. If the owner dies, the homestead terminates unless there are surviving family members who are still entitled to homestead rights. A homestead is considered abandoned when its use is discontinued and there is no intent to use the property again as a home. Even a temporary absence from the home is not abandonment unless there is intent to discontinue use as a home. The burden of proof for abandonment is on the creditor.

For additional details on Homestead …click here

 

Dallas & Austin Names the best City in US for Jobs

According to Forbes  Dallas-Plano-Irving is at # 1 and Austin-Round Rock is at # 2 the rest of the top 5 are The rest of the top Five are:

No. 3 Nashville-Davidson-Murfreesboro-Franklin, Tenn.;​
No. 4 San Jose-Sunnyvale-Santa Clara, Calif.;
No. 5 Charlotte-Concord-Gastonia, N​.C.-S.C.;

 

New Home production drops but remains near post-recession high

According to U.S. Department of Housing and Urban Development and the Commerce Department.
Total housing production fell 3.7 percent in April to a seasonally adjusted annual rate of 1.29 million units after an upwardly revised March reading of 1.34 million

The drop in overall production can be attributable to a decline in the multifamily sector — which includes apartment buildings and condos — after a big uptick in March. Multifamily starts fell 11.3 percent in April to a seasonally adjusted annual rate of 393,000 units. Meanwhile, single-family starts remained essentially flat, inching up 0.1 percent to 894,000 units after an upwardly revised March reading. ….More here

Monarch City, a 270 Acres development in Allen

According to Dallas Business Journal Howard Huges Corp is Partnerign with Allen to construct Monarch City, which will span 8.7 million square feet of office, retail, residential and green space. The project will be centered around a more than 20-acre park featuring ponds, water features and hike and bike trails.

 

 

If you have a Family member, Friend looking to Buy/Sell Real Estate we will be glad to help.