Texas Real Estate Brokerage Sales Apprentice Education (SAE) Practice Exam

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Prepare for the Texas Real Estate SAE Exam with our educational quiz. Study using flashcards and multiple choice questions, each with detailed explanations to ensure you're ready to pass your exam!

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What is the amount of the senior citizen exemption in Texas for residents who are 65 or older?

$5,000
$10,000
$15,000
$20,000

The correct answer is: $10,000

In Texas, residents who are 65 years of age or older are eligible for a senior citizen property tax exemption that reduces the assessed value of their home for property tax purposes. The exemption amount is set at $10,000. This reduction in assessed value can lead to significant savings on property taxes, making homeownership more affordable for senior citizens. This exemption is an important benefit as it helps to alleviate the financial burden of property taxes for older residents who may be living on fixed incomes. It's also noteworthy that school districts in Texas are required to provide a minimum of an additional $10,000 exemption for homeowners aged 65 and over, further amplifying the tax relief for seniors. Understanding the senior citizen exemption is crucial for real estate practitioners in Texas, as it directly impacts the residency status and financial planning of clients who are senior citizens.