Pay property taxes on time. Property Tax Statements are mailed out in October, and are due upon receipt.A homestead exemption removes part of the value from the assessed value of your property and lowers your property taxes. I'm going to show you how to file your homestead exemption in Colin County Texas. The typical deadline for filing a Collin County homestead exemption application is between January 1 and April 30. This application is for use in claiming residence homestead exemptions pursuant to Tax Code Sections 11.13, 11.131, 11.132, 11.133 , 11.134, and 11.432. Going over how to fill out your residential homestead tax exemption application for Collin County. Today we're actually applying and doing the homestead filing so you know how it gets done. Every homeowner is eligible to file a homestead exemption. A person may not receive a homestead exemption for more than residence homestead in the same year.