{"id":2790,"date":"2022-01-27T07:23:00","date_gmt":"2022-01-27T07:23:00","guid":{"rendered":"https:\/\/www.trinityoaksmortgage.com\/?p=2790"},"modified":"2022-09-16T21:27:59","modified_gmt":"2022-09-16T21:27:59","slug":"homestead-exemptions-in-texas","status":"publish","type":"post","link":"https:\/\/www.trinityoaksmortgage.com\/homestead-exemptions-in-texas\/","title":{"rendered":"Homestead Exemptions in Texas: How They Work and Who Qualifies"},"content":{"rendered":"

Homestead Exemptions in Texas: How They Work and Who Qualifies<\/strong><\/h3>\n

(Updated for 2022) If you’re a homeowner or home buyer in Texas, you’ve probably heard of homestead exemptions. Maybe that’s what brought you to our site. You’ve come to the right place! Below, you can learn all about Texas homestead exemptions, their basic requirements, and the application process.<\/p>\n

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What Is a Texas Homestead Exemption?<\/strong><\/h4>\n

At its core, a Texas homestead exemption is basically a tax break for qualifying homeowners. It’s one of the many perks of buying and owning a home in the Lone Star State. A homestead exemption allows you to “write down” your property value, so you don’t get taxed as much.<\/p>\n

As you probably know, residential property taxes are a major revenue source for the state of Texas. They help fund public schools, libraries, streets and roads, and more. They also compensate for the lack of state income tax. Texas is one of several states that do not impose a statewide income tax. As a result, they tend to lean more heavily on homeowners to generate necessary revenues.<\/p>\n

And that’s where the Texas homestead exemption comes into the picture. The “residence homestead exemption,” as it’s officially known, is one of several tax breaks associated with homeownership. The state offers additional exemptions for military veterans, disabled persons, homeowners over 65, etc. But those are the subject of another article.<\/p>\n

Click here<\/strong><\/a> for general information on homestead exemptions. Find your county here<\/a><\/strong>.<\/em><\/p>\n

How Does the Standard Exemption Work?<\/strong><\/h4>\n

Let’s talks specifics. Here’s how the basic Texas homestead exemption works. Section 11.13(b) of the state’s tax code requires public school districts to offer a $40,000 exemption on “residence homesteads” located within their districts. That’s legal jargon for a home that serves as a primary residence.<\/p>\n

Other sections of the tax code offer similar exemptions:<\/p>\n