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What You Need to Know About Filing a 2019 Homestead Exemption in North Texas

What is a Homestead Exemption?

As we slowly return to business as usual after the holidays, one thing that may have slipped off your radar is filing your homestead exemption.  Homestead exemptions are simple to apply for and even better than that, can lower your property tax bill. Ready to save some money? Here’s how the 2019 Texas Homestead Tax Exemption works and where you can apply for it.

A Homestead Exemption removes part of the value of your home from taxation. Without an exemption, you pay taxes based on the value of your home, but with a homestead exemption it lowers the taxable value to the assessed value, then you pay taxes on the lower amount.

How Does the Homestead Exemption Work?

For example, if your home is appraised at $135,000, and you qualify for a $15,000 exemption, you will pay taxes on the home as if it was worth only $120,000.

What type of property qualifies for this exemption?

Your primary residence is the only property that qualifies for a Homestead Exemption. This means the owner of the home must live at the home as of January 1st of the tax year and be an individual (not a corporation or business entity).

What items do I need to have to apply for this exemption?

You will need your Texas driver’s license or state ID card, and your vehicle registration receipt.

What form do I need to complete?

You’ll need to file an Application for Residential Homestead Exemption with the county appraisal district.  (See a list of counties below.) If you are a new homeowner, your appraisal district should send you a form, usually by the end of January.

When do I need to complete this by?

Your form must be filed between January 1st and April 30th of the tax year.

Download your Texas Homestead application at:

Collin County- collincad.org

Dallas County- dallascad.org

Denton County-dentoncad.org

Johnson County-johnsoncad.org

Parker County-parkercad.org

Tarrant County-tad.org