What is a Homestead Exemption?

Dated: 01/18/2020

Views: 41

If you bought your home last year, did you know that you could apply for a Homestead Exemption with the county you live in?  Did you know that a Homestead Exemption helps you save on your property taxes?

1)  What is a homestead exemption?   The homestead exemption reduces a homeowner’s property tax bill by reducing part of the home’s value from being taxed.  The exemption is granted by the county in which the home is located.  Each state exempts a percentage of the home’s value and will vary per state. 

2)  How to qualify:

a.  You must own your home on January 1st of the year in which you are applying.  Home buyers that purchased their home in 2019 qualify for the exemption this year.  If you are over 65 and or disabled, the January 1st rule does not apply.

b.  Your residence must be your primary residence and you cannot claim any other property as your homestead.

c.  Only individual owners may receive the exemption, not corporations or other entities.

d. Condominium and manufactured homes qualify and can include 20 acres as long as it is used for residential purposes.

e.  You must apply between January 1st and April 30th.

3) How do you apply?  - To apply, complete the application online or you can mail it in.  You can find the application online at your appraisal districts website.  For those living in Bexar County, the website is www.bcad.org. Beware, there are several companies that will charge you a fee to file it for you, but it’s free if you do it yourself.  It is easy to do as well.

In the end, who doesn't want to save on their property taxes.  If you have not applied for the exemption, reach out to me and I can send you the form.


Janet Wingrove - Realtor - Remax 

Janet Wingrove has been a licensed realtor in the State of Texas since 2007 and has been selling real estate in San Antonio ever since.  My #1 goal is to help you achieve your real estate dreams! - Janet

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