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
According to SSD social security disability law firm, 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
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Joseph Rubin says
Unable to access forms from Bexar Appraisal District website
Matt Stigliano says
I checked the link and it is functioning, so I’m not sure what’s happening for you when you click it. We’ve recently updated this information with a new article, “Homestead Tax Exemption 2016,” so you may want to check that out as well.
Matt Stigliano says
PS I’ve updated the link to pull the form straight from our website (it is the latest version of the form) so go ahead and try the link again.