Homestead exemptions are great because they can save you money.
Today we’ll talk about property taxes, how you can save money on them, and the recent changes to the Homestead Act that may affect you.
A homestead exemption is a discount on the property taxes for your primary residence. They give you a discount by bringing the assessed value down while keeping the taxable rate the same. If you own the home and can prove that it’s your primary residence, you will qualify for a homestead exemption. Download the form from the appraisal district in your county. Then simply fill out the form and mail it. Some companies charge $79 to do this for you, but it’s very easy to do. Don’t pay somebody for three minutes of work and the cost of a stamp.
We’re really excited about the changes to homestead exemptions as of January 1. You may now file for an exemption as soon as you purchase a house. Previously, you had to wait until the next year before you could file.
If you’d like more information on homestead exemptions, I have resources I can send you, so call or email me. I look forward to hearing from you.