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TX Property Tax Consulting Exam Questions and Answers Graded A+
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TX Property Tax Consulting Exam Questions and Answers Graded A+ What steps should a property owner take if they believe their property is overvalued? If a property owner believes their property is overvalued, they should first review the appraisal notice, gather supporting evidence such as co...

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  • October 5, 2024
  • 31
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • tx property tax consulting exam questions and answ

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  • TX Property Tax Consulting
  • TX Property Tax Consulting

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TX Property Tax Consulting Exam
Questions and Answers Graded A+
What steps should a property owner take if they believe their property is overvalued?


✔✔If a property owner believes their property is overvalued, they should first review the

appraisal notice, gather supporting evidence such as comparable sales, and then file a protest

with the county appraisal district by the deadline.




What is the role of the Appraisal Review Board (ARB) in Texas?


✔✔The Appraisal Review Board (ARB) hears disputes between property owners and appraisal

districts regarding property values and exemptions, ensuring that the appraisal process is fair and

compliant with the law.




Describe the difference between a residential and a commercial property tax exemption in Texas.


✔✔A residential property tax exemption is typically granted to homeowners on their primary

residence, while a commercial property tax exemption may apply to certain business properties

or properties used for specific purposes, such as charitable organizations.




What are the eligibility requirements for obtaining a disability exemption in Texas?




1

,✔✔To qualify for a disability exemption in Texas, an applicant must provide proof of their

disability status, which is typically determined by the Social Security Administration or a

qualified physician.




How is the "market value" of a property determined in Texas?


✔✔The "market value" of a property in Texas is determined based on various factors, including

recent sales of comparable properties, the condition of the property, location, and current market

trends.




What is the deadline for filing a property tax protest in Texas?


✔✔The deadline for filing a property tax protest in Texas is generally May 15 of the tax year, or

30 days after the appraisal notice is mailed, whichever is later.




What information is typically included in a property appraisal notice?


✔✔A property appraisal notice typically includes the appraised value of the property, the

property description, the exemptions applied, and instructions for how to protest the appraisal if

the owner disagrees.




Explain how property taxes are calculated in Texas.



2

,✔✔Property taxes in Texas are calculated by multiplying the assessed value of the property by

the local tax rate set by various taxing entities, such as school districts, municipalities, and

counties.




What factors can lead to a decrease in a property’s assessed value?


✔✔Factors that can lead to a decrease in a property’s assessed value include a decline in the

local real estate market, physical damage to the property, or changes in zoning laws that

negatively impact property use.




How do property tax exemptions benefit homeowners in Texas?


✔✔Property tax exemptions benefit homeowners in Texas by reducing the taxable value of their

property, resulting in lower property tax bills and providing financial relief.




What should a property owner do if they disagree with the ARB's decision?


✔✔If a property owner disagrees with the ARB's decision, they can appeal the decision to the

district court in the county where the property is located within 60 days of receiving the ARB’s

determination.




Describe the impact of property tax freezes for senior citizens in Texas.



3

, ✔✔Property tax freezes for senior citizens in Texas limit the amount of property taxes that can

be assessed on their residence, preventing increases due to rising property values, thereby

providing financial stability for retirees.




What are the common misconceptions about property tax exemptions?


✔✔Common misconceptions about property tax exemptions include the belief that all property

owners automatically receive exemptions and that applying for an exemption is not necessary,

when in fact, application is required.




How does the Texas property tax system ensure equity among property assessments?


✔✔The Texas property tax system ensures equity among property assessments through the equal

and uniform principle, requiring that properties be assessed at similar values within the same

jurisdiction.




What information must be provided to qualify for an agricultural appraisal in Texas?


✔✔To qualify for an agricultural appraisal in Texas, property owners must provide evidence of

agricultural use, including documentation of production, ownership, and the type of agricultural

activities conducted on the land.




Where is the code of ethics found? ✔✔Texas Administrative Code 16 chapter 66

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