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Homestead Exemptions

Now that the New Year has begun, there are many things to accomplish. They might be resolutions, or they might be friendly competitions, but one thing you might not have considered important is filing for a homestead exemption. If you are not sure what that is, we’ve got all the resources you need:

You might be wondering, “What is a homestead exemption?” To put it frankly, a homestead exemption is when you remove a portion of your home’s value from taxation. What does this do? It lowers your yearly property taxes! To qualify, the property you are applying for must be your primary residence – the address of the property must match the address on your driver’s license (as this is what you need to apply). Second, the home must have been purchased before January 1st of the current tax year – if it wasn’t, you have to wait an entire year before applying. However, once you have applied, you do not have to apply again unless you move and take up residence at a new property or the appraisal district asks for you to re-apply.

You must file the homestead exemption in the county which the property is located. Simply go to the county’s website and follow the instructions. Here are links to the Travis and Williamson County websites.

Now that you know what it is, you are probably wondering how and when you can apply. Depending on your county, you can deliver the application in person, mail it to the appraisal office or complete it online! You have from January 1st to April 30th to apply for the exemption.

Now that you understand the basics of a homestead exemption, it’s time to apply! Not sure you can do it alone? Contact us, and we would be happy to guide you through the application process today!

By: Power4