Your 2018 DFW Homestead Exemption Guide
Everyone it’s that Time of Year Again! Time for new homeowners or homeowners that have not filed for their homestead exemption to file! If you bought a home in Texas in 2017, you have until April 30th to file for a residential homestead exemption. A homestead exemption refers to exemptions from property tax that homeowners can claim each year. Homestead exemptions remove part of your home’s value from taxation, so it lowers your taxes for the year. As of now the Homestead exemption gives you 20% off your yearly taxes.
As a homeowner, you may apply for a homestead exemption on your principal residence ONLY. This means the home’s owner must live at the home as of January 1st of the tax year, and be an individual (not a corporation or business entity). A homestead can be a separate structure, condominium or mobile home located on owned or leased land, as long as you live in the home.
In order to qualify for a residential homestead exemption you must provide a Texas driver’s license or state ID card, and your vehicle registration receipt. You’ll need to file an Application for Residential Homestead Exemption with the county appraisal district between January 1st and April 30th of the tax year — or up to one year after you pay your taxes. During the year, if you turn 65 or become disabled, you must apply for the 65 or older/disabled exemption no later than one year from the qualification date. Once you receive an exemption, you don’t need to reapply again unless the chief appraiser sends you a new application. In that case, you must file the new application. If you should move or your qualifications end, you need to inform the appraisal district in writing before the next May 1.
You will find homestead exemption forms for several different counties below. Don’t wait until it’s too late to file your homestead exemption!
• Tarrant County (Please note, if you have purchased your home recently in Tarrant County, TAD will mail you an application.)
The DFW Elite Living Team is here to help, and if you have any questions on the process please do not hesitate to reach out to us at info@DFWEliteLiving.com
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