Understanding the Widow’s Property Tax Exemption

My recently widowed friend was frantic. Her loud loving Italian family along with several neighbors were pestering her to claim her property tax widow’s exemption. When she finally got down to the property tax office, the results were disappointing.

Concerned for her well-being, these people all thought there were huge benefits for her, and were just trying to help. In some situations, that is true. In Texas, there is a set of circumstances where the widow would be fully exempt from paying her home residence tax. However, this is rarely the case. The benefits of a widow’s exemption vary widely from state to state.

Basically, this is how a widow’s exemption works: it is most commonly a discount on the home value for assessing taxes, not on the tax burden itself.

Let’s use an example to see how this one misconception can lead to disappointment:

Remember to call or visit your local agency that collects your property tax so they can tell you exactly what exemption is offered. Often, the true benefit comes from making sure existing exemptions prior to your husband’s passing, such as disability, military service, age, etc. will be continued for you as his qualifying widow.

Above is a hypothetical illustration and individual results will vary. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional.

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