In Texas, residents can file for a Homestead Exemption on their property taxes between January 1 and April 30 of each year. If you purchased a home last year, and it is your primary residence, you should file for your exemption, and save money on your property taxes each year from here on out.
A Homestead Exemption removes part of your home’s appraised value from taxation, effectively lowering your tax bill. For example, if your home is appraised at $100,000 and you qualify for a $25,000 exemption, you will pay taxes on the home as if it were worth only $75,000.
Each taxing district has different Homestead Exemptions. School districts are mandated to offer a $25,000 Homestead Exemption. Other taxing jurisdictions have the option to offer a separate exemption of up to 20 percent of the total value.
To get your Homestead Exemption, you must file an Application for Residence Homestead Exemption, along with all required documentation, with your local appraisal district. This needs to be done between January 1-April 30 in the year after you purchase the home. You must own the home on January 1 to qualify for a Homestead Exemption for the year. If you close on your home on January 2, you will have to wait until the following year to apply since you did not own the home on January 1.
If you miss the deadline to apply, you can file a late application within two years after the delinquency date for the taxes on the homestead.
Once you have filed for your exemption, you do not have to file again unless the county appraisal district requests a new application. The exemption will renew each year automatically, as long as the home is your primary residence.
If you purchased a home last year, go to the appraisal district website for your county and get the application and guidelines for your county. Don’t forget!
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