MUDs, PUDs, and PIDS, Ins and Outs of the Residential Home Exemption

The objective of this course is for attendees to gain an understanding of the differences between a Municipal Utility District (MUD), Planned Unit Development (PUD) and Public Improvement District (PID). Further objectives are for attendees to: understand how to find if a property is located in a special district; find the contact information for obtaining notice to provide to potential buyers of property located within a district; understand how each type of special district is funded by property owners; and distinguish what types of services each type of district provides. This subject matter is relevant to real estate license holders as providing notice is required in real estate transactions for property located within a special district. Further, being able to describe the districts will lead to better informed buyers.

Students will also learn how the homestead exemption impacts the value of property for the calculation of property taxes; how and when to apply for the homestead exemption; the impactions of the over-65/disabled persons exemption on property taxes; how to transfer the over-65/disabled persons exemption when moving homesteads; and how the homestead exemption is used when located with agricultural property.