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Homestead Exemptions

In Texas homeowners may qualify to receive a General Residence Homestead Exemption of $25,000 on the value of their property for school taxes.

To qualify for this exemption:

  1. You must own and occupy your residence on January 1st of the year for which you are applying.
  2. You can not claim any other property as a homestead.
  3. Only individual homeowners (not corporations or other entities) may receive a homestead exemption.
  4. A homestead can be a home, condominium or a manufactured home. It can include up to 20 acres of the land if also owned by the homeowner and used as yard or another purpose related to the residential use of the home.
  5. You must apply between January 1st and April 30th of the year for which you want the exemption.

To apply:

  1. Complete the application for Residential Homestead Exemption.
  2. Include a copy of your drivers license or identification card from the Texas Department of Public Safety. The address must match the homestead address.

For more information contact your local county appraisal district office or visit

https://comptroller.texas.gov/taxes/property-tax/forms/

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How Owning a Home Benefits You and Your Family

Many people know that buying a home can be an excellent financial decision. But owning a home hasmany social benefits, too.

HEALTH AND HAPPINESS

Homeowners generally have fewer health problems and report greater happiness than renters—even when the homeowners
and renters have the same incomes and education levels.

KIDS’ WELL-BEING

Homeownership may help parents engage in positive parenting behavior with more opportunities for school involvement or
participation in neighborhood activities. And residential stability has a positive effect on reading and math performance of children
between the ages of three and 12.

COMMUNITY INVOLVEMENT

Homeowners get more engaged in organizations that serve their community— like schools—regardless of whether they
live in high-value or low-value homes. Home owners also form more relationships with neighbors they can count on for support
and friendship. And homeowners are more politically and civically active.

CRIME PREVENTION

Neighborhoods with more homeowners have less property and personal crimes than neighborhoods with more renters,
even when comparing areas with similar socioeconomic characteristics.

 

Your REALTOR® can help you take the steps toward buying a home and enjoying all the benefits of a place to call your own.