All homeowners aged 65 years or older qualify for a standard $25,000 homestead exemption. Other than this, the Texas school districts offer a $10,000 exemption for qualifying homeowners aged over 65.
For persons age 65 or older or disabled, Tax Code Section 11.13(c) requires school districts to offer an additional $10,000 residence homestead exemption and Tax Code Section 11.13(d) allows any taxing unit the option to decide locally to offer a separate residence homestead exemption. This local option exemption cannot be less than $3,000.
To qualify for the age 65 or older local option exemption, the owner must be age 65 or older and live in the house. If the age 65 or older homeowner dies, the surviving spouse may continue to receive the local option exemption if the surviving spouse is age 55 or older at the time of death and lives in and owns the home and applies for the exemption.
A disabled person must meet the definition of disabled for the purpose of receiving disability insurance benefits under the Federal Old-Age, Survivors and Disability Insurance Act.
An eligible disabled person age 65 or older may receive both exemptions in the same year, but not from the same taxing units. Contact the appraisal district for more information.
It’s not the exemption amount that’s so important. That’s different on ever home depending on the school district. The cool thing is once they turn 65 their tax rate is frozen and can’t go up.
Homestead Exemption for Seniors All Texas property owners can apply for a homestead exemption that reduces the taxable property value, which in turn reduces the amount of their annual property tax bill. As long as the property is the homeowner’s principal residence, they will qualify for this exemption. All residences that qualify for homestead exemptions receive at least a $25,000 reduced property value for school district taxes. Seniors qualify for an added $10,000 in reduced property value. Additionally, all taxing districts can offer optional percentage exemptions of up to 20% of the home’s value or at least $5,000. Optional percentage exemptions for seniors may also be available from taxing districts. These exemptions start at $3,000. Put simply, most Texas seniors qualify for a taxable property value reduction of at least $38,000.
source:
Hometaxsolutions.com- For more information contact the County of residency.
All homeowners can receive at least a $25,000 homestead exemption. Homeowners over the age of 65 may receive additional exemptions. It is best to contact the Appraisal District to get the exact amount for a particular homeowner in a particular district.
source:
Harris County Appraisal District
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The home owner has to be 65 years of age and older to qualify for $25,000 homestead exemption in Texas. Also they could qualify for a certain amount from the school districts.
All homeowners aged 65 years or older qualify for a standard $25,000 homestead exemption. In situations where the 65 or older homeowner dies, the surviving spouse continues to receive the exemption. However, the spouse has to be 55 years or older, must live in the house, own it, and apply for the exemption