It’s time to get to know your Property Tax Exemption Options

Owning a home in Texas involves financial responsibilities, including property taxes. However, Texas provides several property tax exemptions to reduce this burden. These exemptions make home ownership more affordable. Here’s a detailed guide to the key property tax exemptions available for Texas homeowners.

Homestead Exemption: Significant Savings for Homeowners

The Homestead Exemption is crucial for Texas homeowners. It reduces the taxable value of your primary residence, which lowers your property taxes. To be eligible, your property must be your primary residence as of January 1st of the tax year.

Over-65 Exemption: Extra Relief for Senior Homeowners

Texas seniors, aged 65 and older, may qualify for the Over-65 Exemption. This exemption offers additional tax relief by further reducing your property’s taxable value. To qualify, you must be 65 or older as of January 1st of the tax year. You also need to meet certain income and residency requirements.

Disabled Person Exemption: Support for Homeowners with Disabilities

The Disabled Person Exemption provides a reduction in property taxes for homeowners with disabilities. It decreases the taxable value of their homes. Qualification depends on meeting specific criteria and providing disability documentation.

Veterans Exemptions: Recognizing Military Service

Texas values its veterans with several property tax exemptions. These include the Disabled Veterans Exemption, Veterans Exemption, and Surviving Spouse Exemption. Each offers tax relief based on service and disability status.

Other Exemptions: Special Situations

Texas also offers exemptions for properties related to religious organizations, charities, and historical preservation. These exemptions aim to provide tax relief for specific types of properties.

Applying for Exemptions

Each exemption has its eligibility requirements and application process. Homeowners must file the appropriate forms with their local appraisal district. For detailed guidance, it’s wise to consult a tax professional or contact your local appraisal district directly.

By taking advantage of Texas property tax exemptions, homeowners can significantly reduce their tax burden. This support makes owning a home in Texas more manageable and financially rewarding. Educating yourself on these exemptions and applying for those you qualify for is a smart financial move.

You can file most of these exemptions online, and protest your property tax assessment.

Property Tax Protest Information by County. Here is our blog on protesting.