BEHIND THE SCENE
One of the many advantages of owning a home is that you get certain tax benefits. And the Homestead Tax Exemption for Texas homeowners is a great way to lower your tax bill. So don't miss out. If you own your home and the property is your primary residence as of January 1st of the tax year, submit an application to your Appraisal District to see if you qualify.
At Team Athey & Remarkable Property Management we’re always looking for ways to help our clients. Therefore it goes without saying that we would want to help you save every dollar possible on your new home. So don’t delay, the New Year is here, and it is time to apply for your Homestead Tax Exemption.
Here are a few facts to help you understand the Homestead Exemption better.
The exemption lowers the taxable value of your home from its assessed value. Then, your taxes are calculated on this lower amount saving you money.
All Texas residential homesteads are allowed a $25,000 exemption.
65+ senior citizens and disabled homeowners may qualify for an additional $10,000 school district tax exemption.
Disabled Veterans and certain dependents may qualify for an additional exemption up to $12,000.
Homestead Tax Exemptions can be taken on a freestanding structure, condominium or a manufactured home situated on owned or leased land (up to 20 residential acres), as long as the person living in the home owns it.
NOTE: Your Application for Residential Homestead Exemption should be filed with your Appraisal District by April 30th of the tax year. However, you are allowed to file up to two years after the taxes on your new homestead are due. It is worth investigating if your home still qualifies even if you didn’t buy it in 2020 or 2021.
Most Appraisal Districts automatically send a form to new property owners around the end of January. Or you can be proactive and get it done now by simply downloading the Homestead Exemption application from your appraisal district’s website. You’ll need your Texas Driver’s License and vehicle registration receipt, so have both handy. Also make certain your Driver’s License matches your homestead address.
Either way, it’s free to apply!
469-916-1222
