Kahn: Buyers should avoid scams, file for homestead exemptions
Leora Kahn and all staff and Realtors with Bernstein Realty Inc. are prepared to welcome buyers, sellers, and newcomers to the greater Houston market, whether they are interested in singlefamily homes, townhomes or high-rise condominiums.
Kahn, a Realtor, advises clients purchasing homes that school districts, cities and counties throughout Texas offer various reductions on taxable property values. Thus, it may be financially appealing and advantageous for buyers of properties in 2016, or those who purchased before 2016 but have not filed, to file the required application forms provided by their county appraisal districts to apply for residential homestead exemptions if they qualify for the residential homestead exemption(s).
“Qualified buyers for the 2016 Residential Homestead Exemption may apply for the exemption until April 30, 2017,” Kahn said.
The criteria for qualification for residential homestead exemptions include: The buyer/buyers is/are owner(s) of the subject property on Jan. 1 for the year of the claimed exemption; the property was occupied by the buyer/ buyers on Jan. 1 of the year of the claimed exemption as a principal residence; and the buyers claimed a residential homestead exemption on any other property for that year.
“Other requirements to claim a residential homestead exemption are listed in the Application for Residential Homestead Exemption form(s) available from the individual property taxing/ appraisal districts and online from their individual websites,” Kahn said.
In addition to the Residential Homestead Exemption, there are several other exemptions that buyers may qualify for, some of the most common include: Age 65 and Older Exemption, Disabled Persons Exemptions, Surviving Spouse of an Indi- vidual who Qualified for the Age 65 or Older Exemption, and 100 percent Disabled Veterans Exemption. Visit the appraisal district’s website for the complete list.
Unfortunately, you often read or hear of those victimized by scam artists. It has been reported recently that some buyers have received letters seemingly from their appraisal districts, informing them that they may be eligible for a Residential Homestead Exemption and encouraging them to apply for a homestead exemption.
The words used appear to be like those of the official forms, which can be downloaded directly from the appraisal districts’ websites. However, the scam is revealed in the request for an application fee of $35.
“I caution my buyers to be aware of scam artists and encourage them to contact me when they receive letters requesting personal information and/or fees. Buyers are advised that the filing of a Residential Homestead Exemption is always free and that sharing confidential information including Social Security numbers and passwords should always raise warning flags,” she said.
Kahn practiced law for 20-plus years before going into real estate. She is known for putting her clients’ needs first, being up to date on the market, and for her honesty, sincerity and dependability. She has a high rate of return clients and works with many transferees.