If you’re a homeowner in Texas, there’s one simple step that could save you money year after year—filing for your homestead exemption. This powerful benefit is designed to lower your property taxes and protect your home’s taxable value from significant increases. At Blink Lending, we want to ensure you make the most of homeownership by understanding this key advantage.
Here’s everything you need to know about the Texas homestead exemption and how it works.
What Is a Homestead Exemption?
The Texas homestead exemption is a legal benefit that reduces the taxable value of your primary residence. This decrease in taxable value helps lower your annual property tax bill. But that’s not all—the exemption also comes with additional protections under Texas law. It limits how much your taxable value can increase each year, giving you peace of mind even if property market values skyrocket.
Why Should You File for a Homestead Exemption?
Filing for your homestead exemption is one of the easiest ways to maximize your homeownership benefits. Here are a few key perks you can enjoy:
- Lower Property Taxes: The taxable value of your home is reduced, leading to significant savings on your tax bill.
- Taxable Value Protection: Even in years when your home’s market value surges, the taxable value can only rise by a maximum of 10% per year.
- Permanent Savings: Once applied, the exemption stays in place for as long as the home remains your primary residence.
Key Benefits of the Texas Homestead Exemption
The homestead exemption includes several advantages tailored to benefit Texas homeowners. Here’s what you can expect:
- General Homestead Exemption: Reduces the taxable value of your home by 20% for local property taxes.
- School District Tax Exemption: Deducts $100,000 from your home’s taxable value for school taxes, offering substantial savings.
- 10% Annual Cap on Taxable Value Growth: Protects your home from major tax increases by limiting how much its taxable value can rise each year.
- Additional Exemptions for Seniors and Disabled Individuals: Homeowners aged 65+ or those with disabilities may qualify for extra tax reductions.
- Disabled Veteran Exemptions: Offers further tax discounts based on disability rating.
- Local Exemptions for Extra Savings: Some cities and counties provide their own benefits for homeowners.
How to File for a Homestead Exemption in Texas
The filing process is simple, free, and can be done completely online. Follow these steps to make sure you take full advantage of your exemption benefits:
- Confirm Eligibility
To qualify, you must own and occupy the home as your primary residence. Investment properties and rental homes do not qualify. - Know the Filing Rules
Good news—Texas law now allows you to file at any time during the year. There’s no strict deadline to worry about! - File Your Application
- Visit your local county appraisal district’s website (for example, comptroller.texas.gov).
- Download and complete the Application for Residential Homestead Exemption.
- Submit the application along with a copy of your Texas driver’s license or state ID (ensure the address matches the property address).
Important Note: Don’t fall for scams. Filing for the homestead exemption is completely free—never pay anyone to handle it for you.
Why Filing for a Homestead Exemption Matters
At Blink Lending, we believe little steps—like filing for your homestead exemption—can create big savings. Not only does it make your property tax savings manageable, but it also shields your home from large taxable value increases. Given how simple the process is, there’s no reason to delay.
We’re Here to Help
Homeownership should feel empowering, and we’re here to guide you every step of the way. If you have any questions about how to file a homestead exemption, your mortgage, or other tax-saving strategies, don’t hesitate to get in touch.
Thinking about buying your next home or refinancing? Contact us at Blink Lending to explore your options and make homeownership even more rewarding.
Take action today—file your homestead exemption and start saving!
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