After a protest, the ARB reduces a property from $450,000 to $380,000. The $100,000 school exemption applies. School rate is $1.10/100. What is the school tax after the protest?
Correct Answer
D) $3,080
Taxable = $380,000−$100,000 = $280,000. Tax = $280,000/100×$1.10 = $3,080.
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A 100% disabled veteran owns a Texas homestead appraised at $350,000. Combined rate is $2.50/100. Under §11.131, what is the total property tax?
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A property closes on July 15. Prior year tax is $8,760. Seller owes January 1 through July 14 (195 days). Using 365 days, what is the seller's prorated credit?