Temporary Disaster Exemption for Property Owners: How to Apply and Qualify

Property owners affected by the 2022 severe storms and tornadoes may be eligible for a temporary disaster exemption. This exemption applies to qualified properties that have faced a minimum of 15% damage, such as tangible business personal property and certain improvement properties. The damage assessment levels range from minimal to total loss, with varying exemption percentages. To apply, complete the application and provide supporting documents.

• Property owners
• Disaster exemption
• Temporary relief
• Qualification process
• Damage assessment

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Uploaded on Feb 18, 2025 | 0 Views

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Presentation Transcript

1. DISASTER EXEMPTION 2022 Property Owner Webinar Series

2. TEMPORARY DISASTER EXEMPTIONS Property owners who suffered property damage as a result of the 2022 severe storms and tornados may be eligible for a temporary exemption. http://www.guadalupead.org/Tax-Forms-&- Applications Temporary disaster exemption application form 50-312 Application deadline for severe weather storm is Tuesday July 5th, 2022

3. TEMPORARY DISASTER EXEMPTIONS Exemption applies only to qualified property: Tangible business personal property used for income production if the owner filed a 2022 rendition; An improvement to real property, which would include residential buildings (homes), commercial buildings (businesses), industrial buildings (manufacturing), multi-family buildings (apartments), and other real property buildings; and certain manufactured homes used as a dwelling. * Note: Land is not qualified property

4. TEMPORARY DISASTER EXEMPTIONS The qualified property must be a minimum 15% damaged.

5. TEMPORARY DISASTER EXEMPTIONS Damage Assessment 15% < 30% 30% < 60% 60% < 100% 100% Exemption Percentage 15% 30% 60% 100% Level Damage Description I Minimal, may continue to be used as intended Nonstructural damage Significant structural damage Total loss; repair is not feasible II III IV * Note: damages are calculated as a percentage of the improved value

6. Improvement home site value $230,000 Land non-homesite value $110,000 Market value $340,000 Damage Cost Estimates $46,000 Percent of Improvements 20.0% Damage Assessment Level 1 Level Exemption % 15% Date of Disaster 3/21/2022 Days Remaining in year 285 365 Proration % 78% Exemption Amount $34,500 Prorated Exemption Amount $26,910

7. TEMPORARY DISASTER EXEMPTIONS HOW TO APPLY Complete and submit the application Include supporting documents such as: Inspections Photos Repair estimates MORE INFORMATION WWW.GUADALUPEAD.ORG

8. QUESTIONS? Contact: Guadalupe Appraisal District (830)-303-3313 ext. 338 asepulveda@guadalupead.org estrey@guadalupead.org