“Science is good furniture for one’s upper chamber, if there
is common sense below.”  -Oliver Wendell Holmes

OWNERS NEWSLETTER – FEBRUARY 2019

TAX EXEMPTION – Homestead property taxes were entirely eliminated for 100% disabled veterans beginning in 2009. In 2011, the exemption was extended to the spouses of 100% disabled veterans. In Bell County last year, 7,403 properties were tax exempt. Of that number, 4,297 of those properties were located in Killeen. Additionally, $1.27 Billion in veteran owned land was also tax exempt in Bell County. Killeen is projected to lose over $5 million in tax revenue this year when factoring in these exemptions and other exemptions granted to less than 100% disabled veterans. Texas Governor Greg Abbott’s Committee to Support the Military is pushing the state’s Legislature to give full reimbursement to cities like Killeen and counties surrounding military installations for 100% of the lost revenue. Tax revenue is what funds police and fire departments and other vital programs and services to our communities. Updates to follow.

INSURANCE – Please take a few minutes this month to review your existing homeowners insurance policy. Do you have adequate coverage on your investment property? Are you paying too much? Your investment property may not be located in a flood plain, but does your existing coverage protect you against flash flooding or run-off resulting from new construction? What about sudden and accidental water discharge, foundation, or back-up of sewer drain lines and seepage? Does your current policy protect you against dog bite claims? More than one-third of all homeowner’s insurance liability claims are the result of dog bites and canine related injuries. Toby Brooks (toby.brooks@goosehead.com) is an agency owner with Goosehead Insurance and an expert on all matters related to property insurance. Give Toby a call (254-721-8104) or e-mail him if you have insurance questions. Toby will work hard to find you the best policy and can save you money in most cases.

OFFERS TO BUY – If you receive a letter or postcard in the mail or even a phone call from someone wanting to purchase your property, chances are it’s a scam, especially if it sounds like an amazing deal for you. If the person contacting you is legitimate, you can be certain that he or she is looking for a deal that serves their best interests, not yours. The real estate market in our area is robust and the public tax rolls make property owners an easy target for scam artists and bargain hunters. The best advice is to ignore such solicitations entirely. If you’re curious about selling or interested in knowing your property’s value, simply give us a call or send us an e-mail. The information and advice we provide is free. You’ve already entrusted us with the care of your investment and can feel confident that the information we provide is sound, accurate, and that we represent your best interest.

David Gerke
Broker

Posted by: juliem on February 1, 2019
Posted in: Uncategorized