Understanding Weaver’s Property Tax Practice
In this insightful episode of Location3, a Weaver: Beyond the Numbers podcast, hosts Howard Altshuler and Aaron Grisz engage with Stephen Arredondo, Weaver’s property tax leader. They delve into the nuances of property tax, recent legislative changes, and their implications for residential and commercial property owners.
Key Points:
- Homeowners can receive significant savings due to increased homestead exemption and tax rate compensation in Texas.
- The introduction of a 20% cap on commercial properties less than $5 million, impact property taxes and budgeting.
- It is critical to fully understand the property tax cycle and its impact on real estate transactions.
This episode highlights the recent changes in property tax legislation, particularly in Texas, where homeowners can anticipate substantial savings. The increase in homestead exemption and compression of the tax school rate are pivotal in reducing tax bills, reflecting the state’s effort to return surplus funds to the people.
Stephen Arredondo emphasizes the importance of education in property tax matters. “You can hire somebody to do something and still not understand what they’re doing,” Arredondo says. This statement underscores the need for property owners to be informed about their tax obligations and the effects of market changes on property values.
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