ARCIL, Inc.

ISSUE ALERT - DECEMBER 2005

HELP FOR TAX PAYERS

HELP  FILING INCOME TAXES

 

Even if your work income is low, you may qualify for a refund called the Earned Income Tax Credit.  You must submit a tax return to receive a refund.

Community Tax Centers 512-447-2026 ext. 11

Free tax assistance is available January 21 through April 17, open 7 days a week.  Individuals qualify at income up to $20,000 and families up to $40,000.

HELP FOR HOME OWNERS

If you own your home, your property taxes are probably due on January 31.  Many people do not use all of the tax breaks available. 

Homestead Exemption

As a homeowner, you may apply for a homestead exemption on your principal residence, the house you own and live in. Homestead exemptions remove part of your home's value from taxation, so they lower your taxes.  The rules are different for each county, and more information is available through your county tax office.

Disabled Persons Exemption

Some counties allow other reductions in property taxes, such as a "Disabled Persons Exemption."  This is another way to lower your property taxes. You may qualify if you receive disability benefits from the Social Security Administration. For further information, contact the Travis Central Appraisal District at (512) 834-9138 or your county tax office.

Deferred Payment

The State of Texas allows Disabled homeowners to defer or postpone paying any property taxes on their homes for as long as they own and live in them. If you need to postpone your tax payments, contact your local tax office. This prevents the tax office from actions to collect taxes from you.  Interest on taxes you owe is 8 percent a year.

 

John Meinkowsky

ARCIL, Inc.

512 832-6349

johnm@arcil.com