It’s time to talk about Homestead exemptions! Here we give a quick breakdown and answer some common questions about exemptions in Texas.
What is a Homestead Exemption?
A homestead exemption is a tax exemption for your property that can lower your taxable amount. For example, if you have a house that is $1 million and you qualify for a $200,000 homestead exemption, then you're paying taxed on a house as if it were worth $800,000. It lowers your home value by removing part of your home’s value from taxation, you potentially save thousands of dollars a year.
How Do You File A Homestead Exemption?
In most counties, you can now file online. If that is not the case, you will need to mail in the form and any other required documents.
When Do You Need To Turn In The Forms?
The deadline for many counties is April 30th but be sure to check because some are different counties have different requirements and deadlines.
Where do I go and what documents are required to turn in for a Homestead exemption? -Every county is different but for example, Travis County requires a driver’s license that matches the address of the property you are applying for. Here is the information for most of the counties in Austin and surrounding areas.
- Travis County Mailing Address: P.O. BOX 149012, Austin, TX 78714-9012
- Williamson County Mailing Address: 625 FM 1460, Georgetown, TX 78626-8050
- Hays County Mailing Address: 21001 IH 35 North, Kyle, Texas 78640
- Bastrop County Mailing Address: P.O. Box 578, Bastrop, TX 78602
- Burnet County Mailing Address: P.O. Box 908, Burnet, TX 78611-0908
- Llano County Mailing Address: 103 E. Sandstone St., Llano, Texas 78643
- Bell County Mailing Address: P.O. Box 390, Belton, Texas 76513
Do You Have To Reapply Every Year?
No. Once you apply and it gets accepted, it stays on the property until you sell (or move)There are different types of exemptions. Today we are only covering homestead exemptions but please see below for the other exemptions one can apply for if they qualify. Please see here https://comptroller.texas.gov/taxes/property-tax/exemptions/ if you want to learn more about each one in depth.
- School taxes
- County Taxes
- Over 65 and disabled
- Optional Percentage
- Optional Over 65 disable
- Disabled veterans
Always check the latest information with your county and visit our blog for additional information and resources. You no longer have to wait for the new year to file, you can now file once you live at the property! Be aware that things can change if you make improvements or renovate your property. Exemptions can increase and decrease. Check out the county website that you are located in for more information.
