What You Need to Know for Your Homestead Exemption


We know this is the time of year when everyone starts to compile their information for Uncle Sam. One of the great benefits to owning a home is being able to take advantage of the tax exemptions associated with homeownership. We’ve compiled everything you need in one place to make sure you reap this great benefit. Just make sure you file before April 30th.

We thought it might help to know what steps to take to file for your homestead. If you were a client of ours this year, we sent you a copy of your final signed Settlement Statement from your property sale in 2018 so you don’t have to hunt for it. Also, if you now own a different home for 2019, you may be eligible for a Homestead Tax Exemption moving forward. Below are some contact numbers for each county so you can determine if you are eligible for these tax savings.

What does it mean to have a homestead tax exemption and why should you file for it?

A homestead tax exemption is designed to reduce the taxable value of your property, which in turn reduces the amount of taxed you pay on your home annually. Below, we’ll discuss further what this means and how to successfully claim it for your Texas home.

Real Estate is taxed each year by a variety of jurisdictions in your area-typically, a county, city and school district tax property. Hospital, community college or other special taxing districts may levy additional taxes. Under the present property tax system, the determination of property values is the responsibility of an appraisal district. To learn which jurisdictions tax your property, contact the appraisal district in your county from the following list:

Collin County Appraisal District
Dallas County Appraisal District
Denton County Appraisal District
Rockwall County Appraisal District
Tarrant County Appraisal District

Your property is assigned a single appraised value, which is sent to all applicable taxing jurisdictions. The jurisdiction then applies the tax rate, as set by its governing body, to the appraised value.

Several forms of tax relief are available in Texas. Among these are various exemptions, which may reduce the taxable value of your property. Applying for exemptions is the taxpayer’s responsibility. It is also important to be wary of imposters and scammers claiming to file on your behalf. You can file easily, and FOR FREE, on your county’s CAD website using the links below. Also, find more information here. 

Some exemptions require new application each year. Contact your appraisal district to learn more about the following exemptions:

General Homestead Exemption
Over 65 Exemption                                       *Open Space Exemption
Disabled Individual Exemption                     *Agricultural Land Exemption
Disabled Veteran Exemption                         *Residency not required

Information and exemption forms may also be available online using the following websites:
Collin County                                                 www.collincad.org
Dallas County                                                www.dallascad.org
Denton County                                              www.dentoncad.com
Tarrant County                                               www.tad.org
Rockwall County                                            www.rockwallcad.com

On January 1st, value, ownership, legal description of the taxable property and exemption status on the taxpayer are determined. To receive your exemption(s), you must own and occupy the property as of January 1st. You must apply for the appropriate exemptions on or before April 30th to receive the tax benefits for that year.

We are so fortunate to have great clients like you. Most of our business comes from the referrals of our satisfied clients, so as you hear of friends, family, & coworkers who want to buy, sell, or invest in Real Estate, please tell them about us. And please also call us with their names and contact information, so we can connect and can give them the same excellent service that you received.

Please contact us with any questions. Happy filing!

The Van Poole Properties Team

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