People over age 65 take the same personal exemptions on their federal taxes as other filers, but they can take higher standard deductions, notes the Internal Revenue Service. The additional deduction is $1,550 for single taxpayers and $1,250 for each married person aged...
The average property tax rate in Texas is 1.81 percent of the property value, as of 2014. The exact tax rate of a property depends on the county in which the property is located.
Tax exempt refers to a person or company that is not required to pay taxes, such as income taxes, property taxes or sales tax on specific items. Eligible individuals and organizations have a tax exempt ID number to prove that they are not required to pay certain taxes.
A tax exemption is a certain amount of money that can be subtracted from a taxpayer's total adjusted gross income for the entire year. The two types of exemptions allowed are personal exemptions and exemptions for dependents. These exemptions reduce the amount of income...
Property tax exemptions vary from state to state and across tax districts. A homeowners exemption is a common tax exemption available to homeowners in the state of California, reports the Sacramento County Assessor’s Office. Texas offers homestead exemptions that cover ...
A school tax exemption is an exemption from the portion of property tax that is used to support schools. An example is the New York school tax relief exemption, or STAR exemption, which is described on the New York State Department of Taxation and Finance’s website.
Information generally required on a property tax exemption form includes the resident's full legal name, address and Social Security number, according to the Beaufort County Auditor. Applicants also provide details about ownership of the home and proof of age and disabi...