GENERAL INFORMATION: Property owners applying for a residence homestead exemption file this form and supporting documentation with the appraisal district in. A homestead exemption protects at least part of the value of the homestead from creditors.This Video Shows you How to Complete an Application for Homestead Exemption. How to fill out the Application for Residential Homestead Exemption? This can provide asset protection from creditors for at least some of house's value. Homestead tax exemptions shelter a certain dollar amount or percentage of home value from property taxes. The application for the exemption under Tax Code Section 11.132 is Form 50-114, Residence Homestead Exemption Application (PDF). Homeowner when you apply the homestead exemption? What documents are required as proof of eligibility when applying? Homestead exemptions may also have other benefits attached to them.
