I want to alert you of a new exemption that has just come across. This is for your property appraisal…your property taxes. The exemption was because of the damage that was sustained by the winter storm that caused so much damage to our homes. They have issued a temporary exemption property damage by disaster. It allows you to deduct a certain percentage of your property tax owed, equal to the amount of damage done to your home or your business. To get more information about this, go to Dallas CAD, dallascad.org/forms, and you can read about this exemption. You must apply for it within 105-120 days after the governor issued the declaration of the disaster area.
There are four levels that they’re allowing. Minimal may continue to be used as intended damage, you get a 15% exemption. And non-structural damage and water line 18 inches above the floor, you get 30%, et cetera. If there was a total loss, there’s 100%. If you had structural internal damage to your home during the storm, it is well worth your time to look into this exemption that will lower your property taxes for 2021.
If we can help you with any more information about that or send you the actual document, you’re welcome to contact us at firstname.lastname@example.org, and we’ll send that over to you. You can go to Dallas CAD, dallascad.org/forms, and you’ll find it there in the exemptions section. Appraisals are coming out, so we’re getting our values for what will be 2021 property tax valuations. Be you looking for those in the mail here soon.