Texas Homestead Tax Exemption

Basically, the Texas homestead tax exemption is a tax break for homeowners. It’s an exemption for you to pay LESS on property taxes per year. 

Residential property taxes are revenues for the county and state to pay for schools, libraries, streets, etc. It’s also important to note that Texas is one of the few states that does not take income taxes so our property taxes is a way to make up for this revenue. 

The amount of the tax deduction you get for your home will vary based on the county you live in. Typically, once you receive your tax bill you will see a difference in the amount you will be taxed known as the taxable value versus the amount that your home is worth known as the appraisal value. 

Prior to January 1, 2022, homestead exemptions could not be filed until the year after a home was purchased. As of 2022, homeowners may file for a homestead exemption immediately upon closing on their property, so long as an exemption has not yet been filed for that tax year.

Who qualifies for a homestead tax exemption?

The good news is this is most widely use exemption if you have ownership of the home and it is considered your primary residence. 

Per the Texas comptroller website:  

“A homestead can be a separate structure, condominium or a manufactured home located on owned or leased land, as long as the individual living in the home owns it. A homestead can include up to 20 acres, if the land is owned by the homeowner and used for a purpose related to the residential use of the homestead.”

How do I get this homestead tax exemption?

The process to apply for your homestead tax exemption typically takes less than 15 minutes. You will need to go your county’s appraisal district website and apply. 

You can click here for general information on homestead exemptions. You can click here to find your county’s appraisal district website.

Why should I get this homestead tax exemption?

Because it saves you money on the taxes that you pay each year for the cost of owning a home. Plus, the process is fairly straightforward and takes little time to complete. 

Also you may qualify for other exemptions including military veterans, disabled persons and homeowners over 65. 

If you have questions about your homestead tax exemptions or any other exemptions just email me at dee@deesellsdfw.com