Texas law provides a variety of property tax exemptions for qualifying property owners. Local taxing units offer partial and total exemptions.You must apply with your county appraisal district to get a homestead exemption. Applying is free and only needs to be filed once. An exemption removes part of the value of your property from taxation and lowers your taxes. A property tax exemption excludes all or part of a property's value from property taxation, ultimately resulting in lower property taxes. Overview. Texas law provides for certain exemptions, deferrals to help reduce the property tax obligations of qualifying property owners. Can I get a discount on my taxes if I pay early? You must be a Texas resident. Texans can defer property taxes on their primary residence (homestead) if they are age 65 or older.