Residence Homestead Exemption Form 50 114 Details

When most people think of the IRS, they think of tax season. However, there are a number of other forms and documents that the IRS requires throughout the year. One such form is Form 50 114, also known as an Information Return of Corporate Equity Ownership. This document is used to report information about corporate ownership and certain transactions between related parties. Filing this form is important for companies to maintain compliance with IRS regulations. In this blog post, we'll provide an overview of Form 50 114 and explain why it's important to file it on time. We'll also highlight some key points to keep in mind when completing the form.

Below is the details concerning the file you were in search of to fill in. It can tell you the amount of time you will require to finish form 50 114, exactly what fields you need to fill in, and so forth.

QuestionAnswer
Form NameForm 50 114
Form Length2 pages
Fillable?Yes
Fillable fields34
Avg. time to fill out7 min 22 sec
Other namestexas form 50 114, texas form 50 114 instructions, residence homestead exemption form 50 114, texas comptroller form 50 114

Form Preview Example

50-114 (Rev. 01-08/13)

APPLICATION FOR RESIDENCE HOMESTEAD EXEMPTION

To complete this form, see the instructions on back of this form.

YEAR

Appraisal District Name

Phone (Area code and number)

Address

For appraisal district office use only Legal Description

Parcel Number

Step 1:

Owner’s Name (person completing application)

 

 

 

Owner’s name

 

 

 

 

 

 

 

and address

Current Mailing Address

 

 

 

 

 

 

 

 

(attach sheets

 

 

 

 

 

 

 

if needed).

 

 

 

 

 

 

 

 

 

City, State, ZIP Code

 

 

Phone (area code and number)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Driver’s License, Personal ID Certificate,

 

 

Birth Date**

 

 

or Social Security Number*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Percent Ownership in Property

 

 

 

 

 

 

 

 

 

 

 

Other Owner’s Name(s) (if any)

Other Owner’s Percent Ownership

 

 

 

 

 

Step 2:

Street address (if different from above, or legal description if no street address; include property account number, if available)

Describe

 

 

 

 

 

 

 

 

your

Number of acres (not to exceed 20) used for residential occupancy of the structure,

 

 

 

 

 

 

 

 

property.

if the land and structure have identical ownership.

 

 

______________________ acres

 

 

 

 

 

 

 

 

MOBILE HOMES - Give make, model and identification number: _________________________________________________________________

 

 

Attach a copy of statement of ownership and location issued by the Texas Department of Housing and Community Affairs if home is

 

 

8’ x 40’ or larger, or attach a verified copy of the purchase contract that shows you are the owner of the mobile home unless your title infor-

 

 

mation appears on the Texas Department of Housing and Community Affairs’ Web site. If so, the appraisal district may use the Web site

 

 

documents to verify your eligibility.

 

 

 

 

 

 

 

 

 

 

 

Step 3:

 

 

 

GENERAL RESIDENCE EXEMPTION:

 

 

 

 

 

 

 

 

 

Check

 

 

 

You qualify for this exemption if (1) you owned this property on January 1; (2) you occupied it as your principal residence on January 1;

 

 

 

exemptions

 

 

 

and (3) you or your spouse have not claimed a residence homestead exemption on any other property.

 

 

 

 

 

 

 

that apply

 

 

 

 

 

 

 

 

 

 

 

 

AGE 65 OR OLDER EXEMPTION:

 

 

 

to you.

 

 

 

 

 

 

 

 

 

You qualify for this exemption if you are 65 years of age or older. You cannot claim a disability exemption if you claim this exemption.

 

 

 

 

 

 

 

 

 

 

 

 

 

See the back of this form for more information about tax limitations or qualiication dates.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DISABILITY EXEMPTION:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

You qualify for this exemption if you are/were under a disability for the purposes of payment of disability beneits under the federal

 

 

 

 

 

 

 

 

 

 

Old Age, Survivor’s and Disability Insurance Act OR you met the deinition of disabled in that Act. You can’t claim an age 65 or older

 

 

 

 

 

exemption if you claim this exemption. See the back of this form for more information about tax limitations or qualiication dates,

 

 

 

 

and documentation requirements.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

AGE 55 OR OLDER SURVIVING SPOUSE OF A PERSON WHO RECEIVED THE AGE 65 OR OLDER EXEMPTION:

 

 

 

 

 

 

 

 

 

 

You qualify for an extension of this exemption if (1) you are 55 years of age or older on the date your spouse died and (2) your

 

 

 

 

 

 

 

 

 

 

deceased spouse was receiving the age 65 or older exemption on this residence homestead or would have applied and qualiied for the

 

 

 

 

 

exemption in the year of the spouse’s death. See the back of this form for more information about tax limitations or qualiication dates.

 

 

 

 

 

 

 

 

 

 

 

 

 

Deceased Spouse’s Name

 

Date of Death

 

 

 

 

 

 

 

 

 

Check if you will transfer a tax ceiling from your last home. (Attach the tax ceiling certificate if transferring from another county.)

Step 4:

COOPERATIVE HOUSING RESIDENTS: Do you have an exclusive right to occupy this unit because you

 

 

 

 

 

 

 

 

Answer if applies.

 

 

 

own stock in a cooperative housing corporation?

Yes

 

No

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Step 5:

 

 

Application for homestead exemption for prior tax year __________________.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Check if late.

 

 

You must have met all of the qualiications checked above to receive the prior year exemption.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Step 6:

By signing this application, you state that you are qualified for the exemptions checked above. You state that the facts in this application are

Sign and

true and correct. You also state that you do not claim an exemption on another residence homestead. You must notify the chief appraiser if

date the

and when your right to the exemptions end. You swear or affirm that you have read and understand the penalty for filing a false statement.

application.

 

 

 

 

 

 

 

 

 

 

 

 

Authorized signature

Date

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

If you make a false statement on this application, you could be found guilty of a Class A misdemeanor or a state jail felony under Texas Penal Code Section 37.10.

*You are required to give us this information on this form in order to perform tax related functions for this office. Tax Code Section 11.43 authorizes this office to request this information to determine tax compliance. The chief appraiser is required to keep the information confidential and not open to public inspection except to appraisal office employees who appraise property and as authorized by Section 11.48(b), Tax Code.

**Tax Code Section 11.43(m) allows a person who qualifies for a general homestead exemption to receive the 65 or older person exemption without applying when he/she becomes age 65 as shown on the application in the

appraisal district’s records or in information available to the appraisal district.

(Over)

50-114 (Rev. 01-08/13) page 2

APPLICATION FOR RESIDENCE HOMESTEAD EXEMPTION

MORE INFORMATION:

Tax Exemptions, Limitations and Qualification Dates

General Residence Homestead Exemptions: You may only apply for residence homestead exemptions on one property in a tax year. A homestead exemption may include up to 20 acres of land that you actually use in the residential use (occupancy) of your home. Arbitrary factors that are unrelated to that use, such as acreage

limits, matching legal descriptions, and contiguous parcels, may not be considered in determining if the land qualiies. To qualify for a homestead exemption, you must own and reside in your home on January 1 of the tax year. If you temporarily move away from your home, you still can qualify for an exemption if you don’t establish another principal residence and you intend to return in a period of

less than two (2) years. Homeowners in military service outside the

U.S. or in a facility providing services related to health, inirmity or aging may exceed the two year period.

Age 65 or Older or Disability Exemptions: You may receive age

65or older or disability homestead exemptions immediately upon qualiication for the exemption(s). If you have not provided your birthdate on this application, you must apply before the irst an- niversary of your qualiication date to receive the exemption(s) in that tax year. For example, if you turn 65 or are disabled on June 1 of the current year, you have until May 31 of the next year to apply for the current tax year’s age 65 or older or disability exemption(s). This special provision only applies to age 65 or older or disability exemptions and not to other exemptions for which you may apply. You must provide a disability letter or other supporting medical doc- umentation to qualify for a disability homestead exemption. Call the appraisal district for information about the district’s requirements.

Tax Limitations: The age 65 or older or disability exemption for school taxes includes a school tax limitation or ceiling. Other types of taxing units – county, city or junior college – have the option to grant a tax limitation on homesteads of homeowners who are dis- abled or 65 years of age or older.

Surviving Spouse Age 55 or Older: Aged 65 or older – You qualify for an extension of this exemption if (1) you are 55 years of age or older on the date your spouse died and (2) your deceased spouse

was receiving the age 65 or older exemptions on this residence homestead or would have applied and qualiied for the exemption in the year of the spouse’s death. You will not receive the school tax limitation for the age 65 or older exemption unless your spouse died on or after December 1, 1987. Disabled: You will not qualify for a disability exemption claimed by your deceased spouse. You are not entitled to continue the school tax limitation; however, you will be entitled to continue the local option county, city or junior college limitation.

Filing Deadlines: File this application between January 1 and April

30.You may ile a late homestead exemption application if you ile it

no later than one year after the date taxes become delinquent. See

the age 65 or older or disability exemptions section above for more on late iling.

Re-iling: If the chief appraiser grants the exemptions, you do not need to reapply annually. You must reapply, however, if the chief appraiser requires you to do so by sending you a new application

asking you to reapply. You must notify the chief appraiser in writing if and when your right to any exemption ends or your qualiications change. You must reapply if you qualify for additional exemptions based on age or disability in the future. If, however, your application information indicates that your age is 65 or older, or the appraisal

district has access to other information that proves you qualify, you need not re-file for the aged 65 or older exemption. To ensure the earliest possible qualification without reapplication, the oldest spouse should complete the application for a married couple.

Transfer of Tax Limitation or Ceiling: Please call the appraisal district if you will transfer a tax ceiling to your new home.

INSTRUCTIONS:

How to Complete the Application

Fill out the other side of this application completely.

If you have trouble illing out this form, call the appraisal district.

*A list of taxing units and the exemptions they offer is listed be- low or attached to this application.

Step 1: Owner’s Name and Address.

Enter the following information:

•Name of the owner completing this application.

•This owner’s current mailing address and phone number.

•Driver’s license number, personal identiication number, or Social Security number of this owner (kept conidential).

•Percentage of ownership by this owner.

•This owner’s birth date.

•Names of other owners and their percentage of ownership.

Attach additional sheets if needed.

Step 2: Describe the property.

Enter the information requested. Attach the mobile home state- ment of ownership and location or sales contract. Enter the num- ber of acres used for residential purposes.

Step 3: Check exemptions that apply to you.

Complete by checking the boxes that apply. If you check the dis- ability exemption, attach documents verifying your disability. If a surviving spouse age 55 or older, enter the information requested. The appraisal district may request documents on date of spouse’s death.

Step 4: Answer if applies.

If the property is cooperative housing, complete Step 4.

Step 5: Check if late.

If you were eligible for an exemption last year, check the box in Step 5 for late iling for the prior tax year.

Step 6: Sign and date the application.

You must sign and date this application. Making false statements on your exemption application is a criminal offense.

*Note to Appraisal District

Attach a page listing those exemptions,

OR

State:

If you would like to know the homestead exemptions offered by

your taxing units, call the __________________________________

Appraisal District at ________________________________________

______________ .)

How to Edit Form 50 114

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entering details in 50 114 form sample step 1

Fill in the Step 2:, Describe your property, Step 3: Check exemptions that, Other Owner’s Name(s) (if any), Other Owner’s Percent Ownership, Street address (if different from, Number of acres (not to exceed 20), ______________________ acres, MOBILE HOMES - Give make, Attach a copy of statement of, GENERAL RESIDENCE EXEMPTION: You, and AGE 65 OR OLDER EXEMPTION: You space with the details requested by the platform.

Filling in 50 114 form sample step 2

Note the obligatory information since you are within the Deceased Spouse’s Name, Date of Death, Check if you will transfer a tax, Step 4:, Answer if applies, Step 5:, Check if late, Step 6:, Sign and date the application, COOPERATIVE HOUSING RESIDENTS: Do, own stock in a cooperative housing, Yes, Application for homestead, By signing this application, Authorized signature, Date, If you make a false statement on, * You are required to give us this, appraiser is required to keep the, and ** Tax Code Section 11 box.

Filling out 50 114 form sample part 3

The • Filing Deadlines: File this, • Re-iling: If the chief appraiser, Attach a page listing those, State:, and If you would like to know the area will be applied to record the rights or responsibilities of each party.

Completing 50 114 form sample stage 4

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