Property Tax Glossary

Account Number 
A unique 14-digit number used to identify a property tax account. It can be used to look up a tax bill, balance, payment history and other account information. This is also called a parcel number. 
 
Ad Valorem 
A Latin term meaning “according to value.” Property taxes are based on the value of property. An ad valorem tax is based on the taxable value of property, such as land, buildings or business personal property. 

Age 65 or Older Homestead Exemption 
An additional homestead exemption available to qualifying homeowners who are age 65 or older. 
 
Appraisal District 
The local government agency responsible for estimating property values and administering exemptions. In Travis County, this is the Travis Central Appraisal District (TCAD). 
 
Appraised Value 
The value assigned to a property by the appraisal district for property tax purposes. 
 
Appraisal Review Board (ARB) 
A body of citizens that hears and decides property owner protests concerning property values and certain other appraisal district decisions. 
 
Assessed Value 
The value used to calculate property taxes after assessment limitations or other adjustments are applied. 

Billing Number 

A six-digit number used by the tax office to identify the property tax record. 

Business Personal Property 
Property that is not real estate. Income-producing property used by a business, such as equipment, furniture, machinery, computers, or inventory, may be subject to ad valorem taxation. 
 

Certified Appraisal Roll 
The official list of taxable property values provided by the appraisal district to local government entities so they can calculate property taxes. 
 
Current Taxes 
Property taxes that have been billed for the current tax year and have not yet become delinquent. 

Current Property Tax Bill 
A statement showing, as of today’s date, all current and delinquent property taxes due after any adjustments or payments have been applied. 

 
Deferral 
An option that allows certain homeowners, including homeowners who are age 65 or older or disabled, to postpone paying property taxes on their residence homestead. Interest continues at a reduced rate while the taxes are deferred. 

Delinquent Property Tax Bill 
A statement, usually mailed in February, that includes delinquent property taxes, penalties and interest for the current year. Information about previous delinquent years may also be noted. 

 
Delinquent Taxes 
Property taxes that were not paid by the required deadline. Penalty and interest will be added to the amount owed. 
 
Disabled Person Exemption 
A homestead exemption available to certain property owners who meet the state’s disability requirements. 
 
Disabled Veteran Exemption 
A property tax exemption available to qualifying disabled veterans and, in some circumstances, their surviving spouses. 
 
eBill 
An electronic property tax bill sent by email instead of a paper tax bill. 
 
eCheck 
An electronic payment made directly from a checking or savings account using bank account and routing numbers. 
 
Electronic Funds Transfer (EFT) 
Methods of electronically transferring money from a bank account to the tax office. EFT options may include ACH payments and wire transfers. 
 
Escrow 
Money held for a specific purpose. Property tax escrow funds may be held by a mortgage company to pay taxes or by the tax office after making property tax prepayments. 
 
Exemption 
A tax benefit that reduces the portion of a property’s value that is subject to property taxes. 
 
Foreclosure 
A legal process that may be used to sell property to collect unpaid property taxes secured by a tax lien. 

Four Payment Installment Agreement 
Certain qualifying property owners may be eligible to pay taxes in four payments, without penalty and interest, when all requirements and deadlines are met. 

 
Homestead 
The home owned and used as a principal residence, along with the land and qualifying improvements associated with it. 
 
Homestead Exemption 
An exemption available for a home that is owned and used as a principal residence. Property owners are only eligible to receive one homestead exemption. 
 
Improvement 
A building, structure, or other permanent addition to land, such as a house or garage. 
 
Installment Agreement 
A written agreement that allows qualifying property owners to pay delinquent taxes over time instead of making one payment. 
 
Interest 
An additional amount required by state law when property taxes are not paid by the deadline. Interest generally continues to accrue until taxes are paid in full. 
 
Lien 
A legal claim against property that helps secure payment of a debt. A property tax lien attaches to taxable property to secure payment of the taxes owed. 
 
Market Value 
The price at which a property would generally sell under normal market conditions. The appraisal district determines market value for property tax purposes. 

Original Property Tax Bill 
A statement showing the property taxes due when the initial bill is mailed for a particular tax year. 
 
Parcel 
A specific piece of land identified by a legal description and generally treated as a separate property for ownership and tax purposes. The appraisal district assigns a 14-digit parcel number to each property. This number is the property’s account number. 
 
Partial Payment 
A payment of less than the full amount of property taxes owed. Making a partial payment reduces the balance but does not prevent penalties and interest on unpaid delinquent balances. 
 
Payment Agreement 
An agreement that allows the property owner to pay their property taxes over a period of time instead of paying the entire amount at once. A payment agreement does not prevent penalties and interest on unpaid delinquent balances. 
 
Penalty 
An additional charge required by state law when property taxes are not paid before the delinquency date. Penalty begins at 6%, usually on February 1, and increases 1% per month until it reaches the maximum penalty of 12% in July. 
 

Personal Property  

Property that is not real estate. Personal property not used to produce income generally is exempt from ad valorem taxation. 
 
Prepayment 
Money paid toward the next property tax bill before the bill is mailed. The tax office holds the money in escrow and applies it when the taxes become due. 
 
Property Tax Account 
The tax office record associated with a specific taxable property. The account shows information such as property owner(s), taxing entities, taxes due, and payments. 
 
Property Tax Estimator 
A tool that helps estimate property taxes based on property values, tax rates and exemptions. The result is an estimate and is not the official tax bill. 
 
Property Tax Lien 
A legal claim that attaches to taxable property to secure payment of property taxes. 
 
Property Tax Protest 
A formal process that allows property owners to challenge certain appraisal district decisions, including the property’s appraised value. 
 
Property ID 

A 6-digit account number used by Travis Central Appraisal District to identify the property tax record. 

Pulled 
Property has been removed from the foreclosure sale because it has been paid or for legal reasons. 

 
Real Property 
Land and items permanently attached to it, such as homes, buildings, and other permanent improvements. 
 
Rendition 
A report filed with the appraisal district that lists taxable personal property owned or managed by a business or other property owner. 
 
Residence Homestead 
A home that is owned and occupied as a principal residence and qualifies for a homestead exemption. 
 
Refund 
Money returned to property owners when the property tax account has been overpaid or when a later change in value or exemptions reduces the taxes previously paid. 
 
Rollback Tax 
Additional property tax that may become due when certain property receiving special appraisal changes use or no longer qualifies. The rules depend on the type of property and applicable law. Examples of special appraisal include agricultural, timber, and wildlife management. 
 
Struck Off Property 
Property offered at a tax foreclosure sale that did not sell and was transferred to a taxing entity. These properties can be resold at a later date. 
 
Taxable Value 
The amount of a property’s value that will be taxed after exemptions and other adjustments are applied. 
 
Tax Certificate 
An official document showing the property taxes, penalties, interest and other amounts due on a property as of the date the certificate is issued. 
 
Tax Deferral 
A qualifying property owner can delay property tax payments and stop lawsuits and foreclosure actions. The tax payment becomes due after the property is sold or the person who qualified for the deferral is no longer living. Deferred taxes have an interest rate of 5% per year. 
 
Taxing Entity 
A local government or other authorized entity that imposes property taxes, such as a county, city, school district or special district. The elected board of each taxing entity sets tax rates.  
 
Tax Levy 
The amount of property tax imposed based on the property’s taxable value and the applicable tax rate. 
 
Tax Rate 
The rate adopted by a taxing entity and applied to taxable property values to calculate property taxes. 
 
Tax Roll 
The official record containing taxable properties, values and property tax information for a tax year. 
 
Tax Statement 
Another term used for the property tax bill that shows the amount of property taxes due. 
 
Tax Year 
The calendar year for which property taxes are assessed. 
 
Travis Central Appraisal District (TCAD) 
The agency responsible for appraising property and administering property exemptions in Travis County. TCAD does not set tax rates or collect taxes. 
 
Travis County Tax Office 
The county office responsible for calculating and collecting property taxes for Travis County and other local taxing entities. The tax office does not determine a property’s appraised value or set tax rates. 
 
Truth-in-Taxation 
The process required by Texas law that provides information to property owners about property values, proposed tax rates, adopted tax rates, and how those rates may affect revenues. 
 
Value Protest 
A formal challenge a property owner files with the appraisal district to protest the property’s appraised value or certain other appraisal decisions. 
 
Wire Transfer 
An electronic transfer of money from the property owner’s bank account directly to the tax office’s bank account.