Filing Your 2020 Homestead Exemption

Taxes. Nobody likes them; everybody pays them. I’m sure when you considered buying a home you heard about the potential tax savings. Now you own a home and pay your own property taxes. You want to pay as little as you have to, because who would want to pay more? The good news is that you can reduce your property taxes by claiming a homestead exemption!

What is a homestead exemption?

A homestead exemption (HS) removes a slice of your home’s value from being taxed. A homestead is a separate structure, condominium or manufactured home on owned or leased land up to 20 acres. To qualify for a homestead exemption, you must:

  • Own the property
  • Use it as your primary residence as of January 1 of the year in which you are applying (2020 – so you had to close in 2019)
  • The address on your driver’s license must match the address you are claiming the HS exemption on.

How much is my homestead exemption in Texas?

Texas law requires school districts provide a $25,000 exemption for property tax. So if your home is appraised at $100,000 and you qualify for a homestead exemption, you pay school taxes as if your home was worth $75,000. Taxing units also have the option to offer a separate exemption, which will vary based on where you live. For example, Williamson County offers a $3000 exemption for the special tax collected to farm-to-market roads. With your HS exemption, your county cannot raise the appraised value of your home by more than 10% each year, even if the actual value is greater. With the current rate of appreciation for many homeowners, this has saved many people a lot of money over the past few years!

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What other exemptions are available in Texas?

The most common other exemptions claimed are the Senior Exemption (Over 65), Disabled Exemption and Veteran’s Exemption. Both the Senior Exemption and Disabled Exemption requires school districts to offer an additional $10,000 HS but one cannot qualify for both. When you turn 65, you may also qualify for a “tax ceiling” on your school taxes; that is, the school taxes on your home cannot increase as long as you own and live in that home. The Veteran’s Exemption is available to disable veterans and the surviving dependents and entitles a disabled vet an exemption equal to his service-connected disability, up to 100%. Here is a list of most of HS exemptions.

How do I apply for my homestead exemption?

You can apply for FREE for your HS exemption by completing and turning in the correct form to your local county tax office. For Williamson County, you can also apply online. When you purchase a home, you will likely receive many official looking pieces in the mail offering services to file your HS exemption for you for a fee. THIS IS A SCAM. Please save yourself some money by filling out and mailing in the form yourself! You can apply for your HS exemption from January 1 – April 30 in the year after you purchased your home.

  • Homestead Exemption Form for Williamson County (FORM) or (Fill it out ONLINE). Mailing Address: 625 FM 1460, Georgetown, TX 78626-8050
  • Homestead Exemption Form for Travis County (FORM). Mailing Address: P.O. BOX 149012, Austin, TX 78714-9012

If you have questions about your homestead exemption, property taxes or any other real estate question, contact us and we’ll get back to you right away. I hope you have found all of this information helpful!

 

Home for Lease in Austin’s Colony

15205 Bullace - Final Lease Picture

15205 Bullace St, Austin, TX 78724

Home for rent in Austin’s Colony! This three bedroom home has an open floorplan and two full bathrooms. This mother-in-law plan also give plenty of privacy! Living room also has a fireplace. Spacious backyard with plenty of room for you to relax or give your pets a place to play! Contact me to set up your private showing to see it today!

Get More Info and Setup Your Private Showing NOW!

By Kyle PfaffeREALTOR® e: KPfaffe@cityscapepg.com

m: 512-636-9707 w: MoveSmartAustin.com

JUST LISTED – 706 Crane Canyon

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706 Crane Canyon PL, Round Rock, TX 78665

Meticulously kept single story home in the sought-after Sonoma community!! Open floorplan with many upgrades including Corian countertops, farm sink, executive height cabinets, security doors, and deluxe bathroom fixtures. Tile throughout with carpeted bedrooms. Master has separate sitting area perfect for an office or nursery. Rock fireplace with hearth adds warmth and beauty to your cozy family room! Relax on your covered front or back porch. Welcome home!!

Contact me today for your private showing! See 706 Crane Canyon on the MLS. Search other Sonoma homes for sale (LINK).

MAIN HOUSE

  • 1920 sq. ft. split-bedroom floorplan with separate formal dining, family room
  • 3 bedrooms, 2 full bathrooms
  • Corner rock fireplace with hearth and mantle
  • Iron security doors front and back, perfect for those beautiful spring days!
  • Beautiful tile floor throughout with carpeted bedrooms

KITCHEN

  • Corian countertops
  • Updated stainless rectangular sink w/ stainless high-rise faucet
  • Executive height cabinets with tons of extra storage space

BEDROOMS

  • Split bedroom plan for private Master bedroom
  • Sitting room in Master which can be used as a nursery, office or reading area
  • Walk-in closet in Master

BATHROOMS

  • Double sinks in Master
  • Upgraded faucets
  • Upgraded Kohler toilets in both bathrooms

MISCELLANEOUS FEATURES

  • Covered front and back porches with privacy bushes
  • LED lightbulbs throughout
  • Lenox AC/heat system regularly maintained
  • Auto sprinkler system front and back

Get More Info and Setup Your Private Showing NOW!

By Kyle PfaffeREALTOR® e: KPfaffe@cityscapepg.com

m: 512-636-9707 w: MoveSmartAustin.com