Texas Property Tax Consultant Practice Exam

When can a person who acquires property after January 1 qualify for an over 65 exemption?

1. Upon reporting the purchase to the local appraisal district

2. After receiving a notice of ownership from the state

3. May receive the exemption for the applicable portion of the tax year immediately upon application approval

4. Only after the following January 1

The correct answer is: May receive the exemption for the applicable portion of the tax year immediately upon application approval

A person who acquires property after January 1 can qualify for an over 65 exemption for the applicable portion of the tax year immediately upon application approval because property tax exemptions are typically granted based on the ownership status as of January 1 of that tax year. However, in the case of those who turn 65 during the year, they may apply for the exemption upon reaching that age or when they acquire the property, provided they submit their application timely. This flexibility is important because it allows new property owners who become eligible for the exemption due to their age to benefit from it during the current tax year rather than delaying the exemption until the next January 1. This ensures that seniors can receive some financial relief from property taxes as soon as they meet the age qualification and fulfill the necessary application requirements.