Did you know you could save hundreds—possibly thousands—on your property taxes?
If you’re a homeowner in North Texas, applying for a homestead exemption with the County Assessor’s Office is one of the smartest financial moves you can make.
Let’s break down a homestead exemption, why it matters, and how to get every exemption you qualify for.
What Is a Homestead Exemption?
A homestead exemption reduces the taxable value of your home, which means you’ll pay less in property taxes.
For example, if your home is valued at $400,000 and you qualify for a $40,000 exemption, your taxes are based on a $360,000 value instead. That’s real money back in your pocket every year!
Why Apply Now?
In Texas, you can apply for a homestead exemption as soon as you own and occupy your home as your primary residence.
While there’s no cost to apply, you must file with the County Assessor’s Office before the April 30 deadline. Waiting could mean losing out on a full year of savings!
Additional Exemptions You May Qualify For
Beyond the general homestead exemption, there are several other exemptions that might apply to you:
- Over-65 Exemption: If you’re 65 or older, you can enjoy an additional property tax reduction.
- Disabled Person Exemption: Homeowners with disabilities may qualify for extra relief.
- Veteran Exemption: Honorably discharged veterans can receive significant property tax reductions, especially those with service-related disabilities.
- Surviving Spouse Exemption: If you’re the surviving spouse of a U.S. Armed Forces member or a first responder, you may also qualify for a special exemption.
How to Apply
Applying for your exemptions is easier than you might think!
- Visit your County Appraisal District website.
- Download the homestead exemption form and any additional forms for other exemptions.
- Gather the required documents, such as proof of residence (a copy of your driver’s license with the home’s address).
- Submit your application online or by mail.
More About Exemptions & Where to Apply Explained
Common Questions About Homestead Exemptions
Q: Can I apply if I just bought my home?
Yes! As long as your home is your primary residence and you own it as of January 1, you can apply for the exemption.
Q: Do I need to reapply every year?
No. Once approved, the homestead exemption automatically renews. However, if you qualify for additional exemptions later, such as the over-65 exemption, you must file for those separately.
Q: What happens if I move?
Your homestead exemption is tied to your primary residence. If you sell your home and buy a new one, you must reapply for the exemption at your new address.
Don’t Leave Money on the Table
Property taxes in Collin County can add up quickly, but exemptions are a simple way to lower your bill. Whether you’ve been in your home for years or just moved in, take a few minutes to ensure you’re getting every tax break you deserve.
Ready to start saving?
Visit the county appraisal district where you live to for complete details and options and to claim your exemptions!
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