Homestead exemptions remove (or exempts) part of your home’s taxable value from being taxed, which in turn lowers the amount of tax you owe.
Here’s a quick example of how it works.If your home’s tax appraised value comes in at $100,000, and you qualify for a $25,000 exemption (this is the amount mandated for school districts), you will pay school taxes on your home as if the tax appraised value were only $75,000.
Qualifications for the HOMESTEAD EXEMPTION are: Your home is considered your PRIMARY Residence. ( You cannot receive the Homestead Exemption on more than one property at a time.) You may also qualify for additional Exemptions. For instance, individuals age 65 or older or disabled residence homestead owners qualify for a $10,000 homestead exemption for school taxes. This is in addition to the $25,000 exemption for all homeowners. (Download the application below to see a complete list and information about all Exemptions)
Application Deadlines. You should file your regular residential homestead exemption application between January 1 and April 30. Early applications will not be accepted. If your application is postmarked by April 30, this will allow the district time to process it before your tax statement comes out in the fall.
NEW HOME OWNERS: You must be occupying your home on Jan. 1st in the year you are filing for exemption. So for instance if you purchased your new home in August of 2018 you would be eligible after January 1, 2019.
NEW HOMEOWNER TIP : Be sure that your Driver’s License or Texas ID card match the property address or your application could be rejected.
A homestead exemption also protects a surviving spouse if the other homeowner spouse dies. The surviving spouse continues to receive the same exemptions year after year as long as they live in the home.
You can also apply for a retroactive exemption up to one year after the property tax delinquency date (normally February 1st)
APPLYING IS ALWAYS FREE! Don’t be fooled by emails, letters etc from so called “tax service” companies offering to make application for exemptions for you for a fee. You can make application online. (see link to TAD.org)
Remember… It’s your responsibility to make application for any exemptions you may qualify for – they are not automatically applied. You only need to file once for your exemptions unless your status changes or you move.