Get Your Property Tax Exemptions Here

We are constantly updated homestead tax exemption information on our site – you may want to head over to the post “Homestead Tax Exemption for 2016” for the most up to date information. If you have purchased a new home in 2011, first off – congratulations! The joys of home ownership can be plentiful. While a home is a huge investment, there are ways that you can save yourself a bit of money if you know how. One of the most popular, yet surprisingly under-utilized methods of cutting back on expenses is to make sure you have filed for a property tax exemption, in particular the homestead tax exemption. The various exemptions are quite easy to apply for in Texas and while they require a bit of prep work, they shouldn’t take you too long to complete.

The most common of these exemptions is the homestead exemption, which may qualify you for up to $15,000 (the value on the homestead tax exemption was raised to $25,000 in 2015) on your school taxes. In order to qualify for this exemption, you must:

• Own a home as of January 1
• Use that home as a primary residence
• Not claim another property as your homestead
• Complete this form and submit to the Bexar County Appraisal District before April 30

Another popular exemption is the over 65 exemption , which can freeze your school taxes, provided no new improvements are made to your house. To be eligible you must:

• Be over 65 years old (or turn 65 in the current tax year)
• Own your residence and use it as your primary home
• Complete a form and submit to the Bexar County Appraisal District before April 30

If you are 100% disabled and unable to work, you may apply for a disability exemption with a letter from the Social Security Administration and receive up to $10,000 in value exemptions to be applied towards school taxes. (If your home were valued through the appraisal district at $250,000, the school tax rate would only be applied on a value of $240,000). Other exemptions are available in conjunction with the Veterans Affairs office for veterans with at least 10% disability. Exemption benefits will depend on the percentage of disability you have, but they will apply to all tax units (not just school taxes).

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This year (2011) the Bexar County Appraisal District has enacted 2 new requirements for the filing of exemptions. When filing, you must now include:

• A copy of your driver’s license or state-issued ID card with personalised lanyards
• A copy of your vehicle registration receipt (if you do not own a vehicle, you will have to sign an affidavit stating that fact, and you may include a utility bill in its place)

Any agencies who may contact you offering to file the documentation on your behalf, for a fee, are fraudulent. Filing of these exemptions is completely free! As always, if you have questions, be sure to contact your favorite real estate expert for assistance.

image courtesy of Images_of_Money