Bought a Home This Year? You Don't Have to Wait Until January for Your Homestead Exemption

A lot of buyers I work with assume they have to wait until January 1 to file for a homestead exemption on a house they just bought. That used to be how it worked. Today, Texas law lets you claim the general residence homestead exemption for the portion of the year you owned and lived in the home, as long as the previous owner did not already receive it for that tax year. If you closed on your home this spring or summer, it is worth checking your account with your appraisal district now.

The exemption is worth more than it used to be. School districts in Texas are now required to exempt $140,000 of a homestead's value, and homeowners who are 65 or older or disabled get an additional $60,000 off for school taxes. In Harris County, you can apply through the Harris Central Appraisal District's website. You will generally need a Texas driver's license or ID showing the property address. Property tax bills are due by January 31, so the sooner your exemption is on file, the better. I have an accounting degree from UH-Downtown, and I still tell every client the same thing: read your appraisal notice and your tax bill line by line.

If you are not sure whether your exemption is on file, or you are thinking about buying or selling and want to understand what the taxes will look like, call me at 281-818-8177 or book a time at le-rocks.com. I am glad to go through it with you.