Texas Homestead Exemption [EXPLAINED] How to save money on Property Taxes in Texas

Want to know what the homestead exemption in Texas is all about? What benefits do you get as a homeowner when you apply for a homestead exemption?
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In this video I break it all down. I share the benefits of the homestead exemption and how to apply it to your home.
Homeowners in Texas are eligible for a homestead exemption, which can significantly reduce the amount of property taxes they owe and prevent higher taxes in the future. The homestead exemption applies only to the taxpayer's primary residence, and it can exempt a portion of the home's value from taxation. The amount of the exemption and the eligibility requirements vary by county, but homestead exemptions can be a valuable way to lower your property tax bill. If you think you might be eligible for a homestead exemption, check with your county assessor's office or state tax department for more information.

[@JRams-ix6bt]

Now do a video explaining why 15$ go to your actual house principle and 1,685$ are taken for bulls**t reasons

[@ChaseGilesRealtor]

You talking about amortization?

[@JRams-ix6bt]

@ChaseGilesRealtor I was being exaggerated, but yes that's what I was referring too

[@TexasHomeDetectionInspection]

yes it is a must

[@ChaseGilesRealtor]

Gotta save those taxes

[@eliaolivo5924]

Thanks a lot

[@ChaseGilesRealtor]

Happy to help!

[@bryans6323]

This is for people first buying a home, correct? If you've owned one for years, there's no reason...

[@ChaseGilesRealtor]

If the home is new to you, and it’s your primary residence you should file homestead. After you file it once, it stays with the home. But if you move you need to file it on your new house and the new owners of your previous home need to file their own.

[@gigiochoa7459]

This has to be done with in the first year of purchase? Or can it be done a few years after ?

[@Erick-gv6xm]

What do you do if you just filled after two years. Are you owed a refund?

[@ChaseGilesRealtor]

There a possibility for a late filing, but unsure about a refund. I would give your county appraisal district a call and I’m sure they can answer and estimate a refund if applicable

[@soccerlava8]

How can I do it online for Tarrant county

[@ChaseGilesRealtor]

Look for Tarrant county appraisal district and then they may have a doc under forms

[@Miles-wy1zr]

Dropped my “appraised” value down from 319k to 275k. So dumb since I bought the house late 2022 for 225k. I have a question: I have homestead for 40k. Will that 40k be implemented for the lowered “appraisal” value I knocked down? So instead of being taxed for 275k will I be taxed for 235k?. Sorry for the daft questions. First time homebuyer.

[@ChaseGilesRealtor]

Hello, at this point I’d recommend calling your county’s appraisal district and ask them directly

[@gettended]

The appraisals are scams: kzbin.info/www/bejne/gpbFY3p-a95qhsksi=pFeUjG_onf1XHYsG

[@josahdz5184]

Does the video explain what or how it this affect your taxes? ; No!

[@ChaseGilesRealtor]

Yes it does…Check out the 1:00 minute mark to hear how it affects your future assessed value

[@scottireed7747]

So the taxes stay the same due to property value?? Or the taxes stay down because the value stays down? Seems like that critical point didn’t get enough lime light

[@ChaseGilesRealtor]

I’m not sure I know what part of the video you’re talking about. Typically a property tax rate will stay the same (or over time slightly decrease) and the Property value will go up. Your taxes go up because the property is now worth more.

[@mirao82]

Is there a time limit on applying for homestead exemption? I bought my home in 2017.

[@ChaseGilesRealtor]

Yes, they’re able to retroactively file for 2 past years

[@renebarahona]

I realize this video is about 6 months old but figured I'd reach out and hopefully you could lend a hand. I'm currently living in California but planning on moving to Conroe (or some place else near Montgomery County) Texas but I can not wrap my head around these tax breaks. For example; the relator I have been in contact with makes the Homestead Exemption seem like it would discount a flat 20% off whatever the yearly amount is. Using your example that would be 20% off $9,000/y from a 300,000 home. At no point in time has she mentioned a ceiling / cap on the taxes and even went on to say that seniors (65 and up) got an additional 20% to boot. Her example had it deducting 40% from the aforementioned $9,000/y. Is she correct? Perhaps she was referring to something completely different? It just seems... off to me.

[@ChaseGilesRealtor]

Hello, unfortunately the information you’ve been give is incorrect. Feel free to give me a call later this week and I can talk a little more about how Homestead exemptions work. 281-224-6200

[@mimimereusable]

I have FL driver license with a my new Texas address will they accept it? Since it is a government issue and with my home address

[@ChaseGilesRealtor]

I would reach out to the homestead department in your county to clarify, this one is a very specific question 👍🏼

[@leonardofuentes3658]

Hello thank you for the information. I filled the form at the beginning of October last year about a month after I purchased the property and got my drivers license. I called the Montgomery CAD several times to process my homestead exemption and looks like finally last week someone was able to work on that however a can see any change in the public records. And I got the letter with the increased property value for more than 10 % and the homestead exemption is not in the letter. I I filled last year and they processed it last week Do I receive the exemption for this year?

[@ChaseGilesRealtor]

Hello, I’m not 100% sure in this scenario. I would contact MCAD for specifics

[@ThaoNguyen-jv4up]

I’m disabled ( grand mal seizures in my sleep) I can’t work , I can barely stay alive everyday is a battle ( I inherited a house from my parents) do I still need to pay property taxes

[@ChaseGilesRealtor]

I’m sorry you’re going through so much pain, which county are you located in?

[@jingjiao8234]

I have another house in another state where tax rate is very low and my house there was very cheap and now is used for rental property, now I bought a house in TX, should I fill in tax limitation transfer and whether I need to provide evidence that I am not having homestead exemption for my previous house in another state? Thanks.

[@ChaseGilesRealtor]

If Texas is your new homestead, I would claim it as your homestead for future value increases max. I’m not too familiar with Tax limitation transfer

[@randyschiffer3265]

I just turned 65 and own the house outright how will this effect my taxes?

[@ChaseGilesRealtor]

Happy Birthday! 65+ is a great extra exemption, the portion of your property taxes that goes to the schools (majority of the %) gets locked in. So you will not see many more increases

[@andreytravkin7579]

I filed my Homestead Exemption a year ago, and my taxes was decreased up to 160K but today I got a letter from Harris county stating my new re-apprased value is 262K I wonder do I need to file Exemption again?

[@ChaseGilesRealtor]

You do not need to file again. Appraised value is different than effective value. Your homestead exemption will put a cap on the effective value increase each year. Your tax is based on the effective value.

[@gettended]

The appraisals are scams: kzbin.info/www/bejne/gpbFY3p-a95qhsksi=pFeUjG_onf1XHYsG

[@eye-Am-Me]

Does Bexar Country in San Antonio not have an online option? I haven't been able to find it.

[@ChaseGilesRealtor]

They should, maybe give the office a call

[@vanessareyes9616]

Hello question how do I find my deed number

[@ChaseGilesRealtor]

Probably in the big packet the title company gave you. Or on the appraisal districts website

[@dureaudeveraux2061]

Will it decrease your capital gain when you sell in the long run?

[@ChaseGilesRealtor]

No this does not affect capital gains or your purchase basis, just yearly property tax.

[@esgee2464]

What is the approximate turn around time?

[@ChaseGilesRealtor]

Ive had them take a while for different clients, i would keep on checking your home's address on the appraisal district's website. If no progress, maybe call to see if they're missing any documents from you

[@TheGabyflores1234]

What can I do if I sent the homestead exemption form with the wrong year and got declined. Is there a way I can still correct it? I would also be interesting in protesting. I am located in Harris CountyThank you

[@ChaseGilesRealtor]

You can resubmit the form. Or possibly call to see if you can amend your submission. Protesting is easy with the new value letter they sent in the mail

[@TheGutFeels]

What if my license has my previous home address?

[@ChaseGilesRealtor]

In order to file homestead on your new property, you will need to get a new DL with the new address.

[@mimimereusable]

I purchased my home in 2021 can I file for that year?

[@ChaseGilesRealtor]

Yes you can file retroactively for 2 years but unsure about your DL. It probably needs to be a Texas DL

[@Spacexioms]

@@ChaseGilesRealtorthank you, also would you get any money decompensated if that’s the case? I bought my house in 2020 and taxes went up by a lot. Just curious….

[@joelrangel9550]

Are immigratns able to fill the texas homestead exemption?

[@ChaseGilesRealtor]

Yes, you just need a valid drivers license with the homestead property address listed on the ID

[@StayDownComeUp512]

Imagine owning a home...

[@ChaseGilesRealtor]

Are yo hoping to own a home ??

[@StayDownComeUp512]

@@ChaseGilesRealtor I'd never buy in this market but I'm living on 5 acres for 1k a month

[@willcastle2371]

That Governor Abbot is fired in 2024 and I’m republicans. We that own a home pay more than a guy that rents. People don’t buy a home just rent, believe me you will save thousands of dollars.

[@ChaseGilesRealtor]

Everyone’s untitled to their opinion, what about building equity? Tax deductions? There’s no 1 right answer but interesting to hear your thoughts

[@joematties7557]

your comment doesn't make a lot of sense but, like him or hate him, he's trying to limit the taxes with a bill right now...

[@Aria__Arvilla]

You know the person you are renting that home from is charging you enough rent to pay for that house plus profit, so how can the person who rents you the house can afford to pay monthly payments but you can't ?

[@Aria__Arvilla]

You don't have income tax & people r moving to your state , that's why house prices & property taxes r higher . The taxes r still lower compared to states that have income tax

[@EdwardM919]

Abbott and the like ssy they want to cancel property taxes, but what they don't tell you is that businesses pay more than you'll ever pay, and also they won't lose that revenue and it'll come from somewhere and the only thing they could tax is either income or sales and idk about you but I don't want a 25% sales tax on everything.