Homestead Exemption Overview

Homestead Tax Exemptions

Homestead is the most common property tax exemption for  Homeowners.

Good news, starting in 2024, Texas Residents are eligible for a standard $100,000 Homestead exemption from public school districts. This is up from $40,000 previously. 

( a $500,000 home - $100,000 = $400,000 giving approx.. $950-$1,000 savings per year.  )

The Homestead exemption is ;

• only applicable to properties owned by individuals, not corporations, partnerships, or LLCs.
• owner must be an individual and use the home as their principal residence
• trust-owned property must meet specific criteria to be eligible for the exemption

The Filing deadline for Homestead exemption is April 30^th, with a few exceptions

• late application with their county appraisal district if they do so no later than a year after the taxes become delinquent
• may also be accepted for up to two years after the deadline for disabled persons or those over 65
• Late applications for disabled veterans may be accepted as late as five years past the delinquency date, and surviving spouses may file up to two years late

Once filed, there is no need to renew your Homestead Exemption if you continue owning and residing as your primary residence.

The homestead exemption applies to any residential structure with a few limitations.

• new construction homesas well as older homes.
• manufactured homes
• condos
• traditional houses built on owned or leased land.
• acreage homeup to 20 acres of land and still qualify, as long as the land is not used for commercial purposes.

The primary stipulation is that you must use the home as your primary residence. You can temporarily relocate for up to two years as long as you maintain ownership of the property and don’t establish residency elsewhere.

Filing is simple, information you need will be;

• property owner's driver's license or state-issued identification card.
• The address listed on the owner's identification must match the property address for which the homestead exemption is being applied.

Be sure to file for your Homestead when moving into your new home. The forms can easily be obtained from your Taxing District or give us a call or email and we will send you a copy.