Due to the February 12, 2021 disaster declaration by Governor Abbott, certain properties within Denton County may qualify for a temporary exemption under Section 11.35 of the Texas Property Tax Code.
One of the primary requirements for a “qualifying property” is that at least 15% of the structure value was damaged by the disaster. The exemption applies to homes as well as tangible business personal property used in the production of income. Example: If your total Market Value is $250,000, but your Structure Value is $180,000, the damage would have to be greater than $27,000 to qualify for Level 1 Damage and the 15% exemption.
Documents, inspections, photos, repair estimates, surveys and any other additional information that may be helpful in assessing the property’s damage must accompany the application. Applications for this exemption must be received by May 28th. If you believe your property may qualify, an application for a temporary exemption is located at the link listed below.
Application:
https://comptroller.texas.gov/forms/50-312.pdf
Please submit your application and supporting evidence to Denton Central Appraisal District at 3911 Morse Street, Denton, TX, 76208.
More information:
https://texas.public.law/statutes/tex._tax_code_section_11.35