Thursday, November 02, 2006

How do I get my homestead exemption on my new home?

Certain types of property will qualify for an extra Texas property tax rebate called the homestead exemption. Basically, the homestead exemption allows you to pay less in taxes on your home than you would normally be entitled. For example, if your home was worth $100,000 and the tax rate was 2%, you would pay $2,000 in property taxes ($100,000 x 2% = $2,000). However, if the hoemstead exemption was $50,000, you would only pay $1,000 in property taxes ($100,000 - $50,000 = $50,000 x 2% = $1,000).

To make sure that you get this reduction, go to your county appraisal district office and fill out a homestead exemption application. There may also be other exemptions for which you may qualify that could also reduce your Texas property tax bill.

As always, please feel free to contact us through our website,, if we can be of assistance.

Wednesday, November 01, 2006

Practical real estate advice

While looking for some ideas on future blog entries, I came across this excellent, starightforward blog entry from a real estate agent in Sugarland, Texas. Click here for the full article. It contains the true facts for 5 of the most popular homeownership myths. One of particular interest is about how transferring real estate into an adult child's name may actually end up costing the child more than simply going through the probate process.

I lost my social security card. How do I get another one?

According to the Social Security Administration website, here's what you should do:

"You can replace your Social Security card for free if it is lost or stolen. However, you are limited to three replacement cards in a year and 10 during your lifetime. Legal name changes and other exceptions do not count toward these limits. For example, changes in noncitizen status that require card updates may not count toward these limits. Also, you may not be affected by these limits if you can prove you need the card to prevent a significant hardship.

"To get a replacement card:

As always, please feel free to contact us through our website,, if we can be of assistance.