March 23, 2023

Texas Homestead Exemption Offers Potential Tax Savings

There are plenty of terrific reasons to live in Texas. The wide-open spaces, wealth of natural and historic beauty and the (generally) terrific weather are just a few. However, practically all Texans are united in their dislike of one thing — property taxes.


The Texas Homestead Exemption is one way many Texans can proactively impact their annual property tax bill. As stated in Texas Tax Code Section 11.13(b), school districts are required to provide a $40,000 exemption on a residence (homestead). When approved, the Homestead Exemption allows a homeowner to write down their property tax value, therefore receiving a lower tax bill (essentially, a tax break).


To qualify for the homestead exemption, applicants must:


  • Have ownership interest in the property
  • Use the property as their principal residence
  • Not claim an exemption on another residence in or outside Texas


As mentioned earlier, the homestead exemption is a way for many Texans to save significant amounts of money on their property taxes. During uncertain financial times (and particularly high inflation) people are watching their pocketbooks closely and every dollar counts. The Homestead Exemption offers relief for qualified applicants.


Please note, however, there is a deadline for applying for the Homestead Exemption. A completed application (and other required documentation) must be submitted no later than April 30.

For more information on the Texas Homestead Exemption and an application, see the Texas Comptroller’s website.

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