Have You Filed for Your Homestead Exemption?

Heres a tip about how you can save money on your property taxes.

With a homestead exemption, you can save money every year on your property taxes. Say your home is worth $100,000; after getting a 20% discount (for example) with your homestead exemption, the county will assume the value of your property to be $80,000, and youll pay taxes on your home for that amount. There are several types of exemptions for which you could qualify. The most basic one is the homestead exemption, but theres also the over-65 exemption, the disability property tax exemption, and more.

If you own the house with your spouse, you both need to apply individually.

The application period for your homestead exemption extends from January 1 to April 30. Be sure to apply for yours during that window, especially if you bought a home in 2020. Filing for the exemption is a one-time process until you buy a new home, and its also pretty simple. In Harris County, for example, they have the HCAD app that you can download on your phone.

When you apply, youll need your drivers license or your Texas state ID card that reflects the home address for which youre applying for the exemption. Also, if you own the house with your spouse, you both need to apply individually; you will not be qualified for a full exemption if both of you do not apply.

If you have any questions about homestead exemptions, reach out to me. Id be more than happy to help you.