A current Homestead Exemption application must also be completed for the new residence. The transfer certificate must be obtained from your prior Appraisal District. To transfer the tax ceiling, you must qualify for an Over-65 or Disabled Person exemption at your previous residence and submit a tax ceiling transfer certificate from your previous residence. Only the school tax percentage can transfer outside Coryell County. If the county, city or special district grants the limitation, you may transfer the same percentage of taxes paid to another qualified homestead within that same taxing unit within Coryell County. You may transfer the same percentage of school taxes paid to another qualified homestead in the state. How do I transfer my senior citizen or disabled person tax ceiling? It will also change if you move to a new home. For example, if you add a room or garage to your home, your tax ceiling can rise. If you significantly improve your home (other than ordinary repairs and maintenance), tax ceilings can go up. The school taxes on your home subsequently may fall below the ceiling. The ceiling is set at the amount you pay in the year that you qualify for the aged 65 or older exemption. In addition, when you turn 65, you may receive a tax ceiling for your total school taxes that is, the school taxes on you residence cannot increase as long as you own and live in that home. The amount of the exemptions that are granted by each taxing unit is subtracted from the market value of your residence and the taxes are calculated on that “lower value”. If you are 65 or older your residence homestead qualifies for more exemptions which will result in greater tax savings. Is it true that once I become 65 years of age, I will not have to pay any more taxes?
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