Gregg County: Tax exemption available for properties damaged by winter storm

Mar. 26—Gregg County property owners whose property sustained damage during the February snowstorm may qualify for a new property tax exemption, the Gregg County Appraisal District said.

Qualified properties include those that are at least 15 percent damaged by a disaster and can receive a temporary exemption of a portion of their appraised value. Property owners must apply for the exemption by 105 days after the governor's disaster declaration, which is May 28.

Qualified property includes:

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tangible personal property used for income production if the owner filed a rendition;

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residential buildings (homes), commercial buildings (businesses), industrial buildings (manufacturing), multi-family buildings (apartments), and other real property buildings, (land value cannot be exempted) and

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certain manufactured homes used as a dwelling.

The appraisal district determines if the property qualifies for the temporary exemption and assigns a damage assessment rating of Level I, II, III or IV based upon available information. The district may rely on information from a county emergency management authority, the Federal Emergency Management Agency (FEMA) or other appropriate sources like insurance adjusters when making this determination.

The amount of the exemption is determined by multiplying the appraised value, (excluding land), of the property, determined for the tax year in which the disaster occurred, by the exemption percentage based on the damage assessment level and is then multiplied by a proration factor (the number of days remaining in the tax year after the date the governor declares the disaster is divided by 365). The proration factor for this disaster is 0.88 (322/365 = 0.88). The appraisal district must send written notice of the approval, modification, or denial of the application to the applicant.

Forms are available on GCAD website www.gcad.org. After completion, mail your application to: Gregg Appraisal District: 4367 W Loop 281 Longview, TX 75604 or send via email to [email protected].

If you need more information regarding this exemption, contact the appraisal office at (903) 238-8823.

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