Does homestead exemption lower property taxes in Texas?

To qualify for the general residence homestead exemption, a home must meet the definition of a residence homestead and an individual must have an ownership interest in the property and use the property as the individual's principal residence.

Ing to the Comptroller, there is no provision for the cessation of property taxes at any stage. However, there is a Texas property tax exemption for people over the age of 65, which offers temporary tax relief for seniors. At the age of 65, seniors can apply for an exemption from Texas property taxes.

Luckily, if your primary residence is in Texas, there is some relief available. If you qualify, you can apply for the general residence homestead exemption. This exemption reduces the taxable value of your property, thus potentially saving you thousands of dollars in property taxes each year.

It basically allows you to “write down” your property value, so you don't get taxed as much. The state tax code requires public school districts to offer a $40,000 exemption on “residence homesteads” located in their district.

Click here to view a list of Travis County taxing entities and their exemptions. If you have any questions about exemptions or need help completing your application, please contact our new Exemption Helpline during normal business hours at (512) 873-1560.

Other Types of Homestead Exemptions Senior citizens in Travis County over 65 years old receive an additional $25,000 residence homestead exemption for their local school district taxes. Non-school district taxing units can also optionally offer a senior homestead exemption of no less than $3,000.

“A homestead exemption saved the average Travis County property owner $1,876 on their taxes in 2023,” added Mann. “Exemptions continue to be the easiest and fastest way to lower your property tax bill.”

A general residence homestead exempts a portion of your residence homestead's value from taxation, potentially lowering your taxes.

Per the Texas Comptroller, the completed application and required documentation are due no later than April 30 of the tax year for which you are applying. A late homestead exemption application, however, may be filed up to two years after the delinquency date, which is usually Feb.

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To qualify for a homestead exemption, you must own and occupy the property on which you are applying. Exemptions are also available for disabled veterans, seniors over the age of 65, people with qualifying disabilities, and some surviving spouses.An eligible disabled person age 65 or older may receive both exemptions in the same year, but not from the same taxing units. The Travis Central Appraisal District grants homestead exemptions and assigns you the Owner ID and PIN you will need to apply on your Notice of Appraised Value. First, fill out the application specific to your County Appraisal District, then mail all of the documents to the Appraisal District for your county. Do I Qualify for a Homestead Exemption? Do I Qualify for a Homestead Exemption? Exemptions are allocated according to percent of ownership interest the applicant has in the property. The deadline for application is April 30th.

Homestead Act Eligibility In Travis

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