If I lease a vehicle that I use for personal purposes, do I have to pay property taxes on the vehicle?

blank

In Texas, all property is taxable, unless exempt by state or federal law. Leased vehicles produce income for the leasing company and are taxable to the leasing company. In many leasing contracts, companies require their lessees to reimburse them for taxes assessed on the vehicles. Texas does exempt leased vehicles that are not held for … Read more

How do I know O’Connor is reputable? What about credibility?

blank

Since 1974, O’Connor has been highly respected in the real estate field. Our team includes licensed Senior Property Tax Consultants, and we are frequently featured authors and experts in national media outlets, including The Wall Street Journal, The New York Times, USA Today and National Real Estate Investor magazine. Patrick O’Connor is the author of … Read more

What are the benefits of an over 65 homestead exemption?

blank

The most significant benefit is it freezes your current level of school property taxes. In addition, it typically provides additional exemptions for property taxes. The Residential Property Protection Program™ is powered by O’Connor When you submit your enrollment, you understand this is a risk free offer to you. If your taxes are not reduced you … Read more

How are fees billed for current and future years?

blank

If we reduce your taxes, the fee is applicable for the protested year only. Your contract will remain in effect until you cancel it. We will continue protesting each year and send you a bill only if we reduce your property assessment for that year. You may cancel the agreement at any time. The Residential … Read more

Is there a fee if you don’t reduce my taxes?

blank

There are no fees whatsoever if we do not reduce your taxes. We will not send you an invoice unless we reduce your property taxes. The Residential Property Protection Program™ is powered by O’Connor When you submit your enrollment, you understand this is a risk free offer to you. If your taxes are not reduced … Read more

Who is O’Connor – and how can you reduce my property taxes?

blank

O’Connor is the largest property tax consulting firm in the U.S. O’Connor’s team of professionals possess the resources and unparalleled market expertise in areas of property tax, cost segregation and appraisal for commercial and residential real estate. For the 2015 tax year, the firm lowered assessed value by more than $1.6 billion, resulting in estimated … Read more

How are my tax savings calculated?

blank

For the tax year in question, subtract the property’s final assessed value (after the protest hearing) from its initial noticed value. Then, multiply the difference by the previous year’s total tax rate. The resulting number equals the amount of tax savings. For example, if the initial assessed value is $100,000 and the final assessed value … Read more

Can a property owner whose property was sold at an auction get that property back?

blank

Yes. A person can redeem the foreclosed property within six months after the purchaser’s deed is filed for record. The old owner must pay the new owner the purchase bid for the property, plus recording fees, amount of any taxes, penalties, interest and costs on the property, plus 25 percent of the aggregate total. If … Read more

May I defer my taxes if a taxing unit has filed a suit in district court for failure to pay taxes on my property?

blank

Yes. You may “abate,” the delinquent taxes if a taxing unit has filed a suit in district court for foreclosure purposes. If a judgment was rendered, you still may abate the taxes; however, you must do so five days prior to the tax sale.

When can a taxing unit file a delinquent tax suit?

blank

A taxing unit may file a lawsuit at any time once taxes on a property go delinquent. The taxing unit’s last resort is taking a delinquent property owner to court. If a delinquent tax suit is successful, the court costs will be added to the delinquent tax bill. Each owner who owns taxable property on … Read more