If you bought a home last year, then you have until April 30, to file for your Homestead Exemption! Chop Chop! Times a wasting! This is very important and not many new homeowners know to file for a homestead exemption. It is always discussed at the closing table but chances are, you were overwhelmed on closing day and inundated with info and paperwork, that you may have missed this tidbit.
What is this thing you speak of, you ask?
Well…….A homestead is the one primary residence of a person, and no other exemption can be claimed on any other property anywhere, even outside the boundaries of the jurisdiction where the exemption is claimed.
Not to get too technical but a Homestead exemption is a legal regime designed to protect the value of the homes of residents from property taxes, creditors, law suits, and circumstances arising from the death of the homeowner spouse. Laws are found in state statutes or constitutional provisions which exist in many states in the United States. The homestead exemption in certain southern states has its legal origins in colonial Spanish exemption laws. Exemption laws in other states were enacted in response to the effects of economic depressions in the nineteenth century.
So in Texas, a homestead exemption helps you save on taxes on your home. An exemption removes part of the value of your property from taxation and lowers your taxes. For example, if your home is valued at $100,000 and you qualify for a $20,000 exemption, you pay taxes on your home as if it was worth only $80,000. Nice huh?
Below are the links to download the necessary forms to claim your exemption.
- Travis County
- Williamson County or file online
- Hays County
- Bastrop County: Call 512-303-1930 ext. 22
- Burnet County – Mailing Address: P.O. Box 908, Burnet, TX 78611-0908
- Llano County – Mailing Address: 103 E. Sandstone St., Llano, Texas 78643
Don’t delay, as the deadline for filing is April 30!
You should receive your preliminary tax assessment in May or June. If you need help protesting your assessed value, please contact me for assistance in determining current market values.