For those that may have been impacted by damages sustained to structuresdue to the wildfires, please read the following information.Generally, property is appraised as of January 1 of each year. There is analternate valuation scenario envisioned by the property tax code in Section 23.02, whichstates, in part: “(a) The governing body of a taxing unit that is located partly or entirelyinside an area declared to a be a natural disaster area by the governor may authorizereappraisal of all property damaged in the disaster at its market value immediately after the disaster.” The code also discusses the fact that the property value is prorated from thedate of the disaster. A copy of Section 23.02 is located at the end of this section.Homeowners who do not claim another homestead, begin construction within a year, andreoccupy the house within two years can maintain their homestead exemption. A copy of Section 11.135 is included at the end of the section. Finally, once the property is rebuilt,if it is not a greater square footage or higher quality, it will receive the market value thatit had the year before it is completed. See Section 23.23 (f) at the end of this section.The Travis County Commissioners and the Pflugerville IndependentSchool District (ISD) Board of Trustees have decided to grant property tax relief, due todamage from wildfires which occurred in September, and for the wildfire that occurred inOak Hill in April. At this point in time, no other jurisdictions have joined these proclamations, so the tax relief will be limited to the Travis County and Pflugerville ISD portion of property taxes for the homeowners in those areas whom have suffered a loss.The following is an example of how a property’s market value wouldchange, for a property which burned to the ground on September 4:Appraisal DateJanuary 1, 2011September 4, 2011Land Value$82,400$82,400Improvement Value
+190,679+34,322Total Value$273,079$116,722Tax Ratex.004658x .004658Full Year’s Property Tax$1,272.00$543.69Proration
.673973.326027Prorated Property Tax$857.29$177.26Property Tax Before the Disaster$857.29Property Tax After the Disaster177.26Total Property Tax$1,034.55 __________________
Property which is burned down to the foundation will carry a value of 18% of theoriginal improvement value.
Under this portion of the property tax law, the property is prorated by the number of days until the end of the year after the disaster occurred.The above example assumes a home which was worth $273,079 before the fire, and$116,722 after the fire (assuming the foundation remains intact). In this example, theTravis County tax rate of .004658 is then applied to determine what the tax would be for