Homestead exemption (renting, new home, buying)

[jwb123]

Can someone please explain the homestead exemption to me - I *am* googling, and not finding a link which details it, the requirements, etc.

Also, can you take a homestead exemption if you are taking another exemption - for example, the over-65 exemption.

Thanks!

[gigi927]

Both of these links lay it out pretty well in more of a bullet point/FAQ format. Basically it needs to be your principal residence and you need to have owned the property as of January 1 of the tax year. Homestead exemptions must be filed by 4/30 of the taxing year.

http://www.texasrealestate.com/web/3.../homestead.cfm (site is maintained by the texas ass'n of realtors)

http://www.texas-property-taxes.com/hometax.html

as does the Williamson County CAD
http://www.wcad.org/ (click on FAQ)

yes, seniors can always take their additional exemptions on top of homestead.

[jwb123]

Perfect thank you! I don't know why those links didn't come up in my search!

[Trainwreck20]

Also, just for FYI, you can 'back claim' your homestead exemption one year if you miss the deadline or forget your first year....had to do that once .

[schoenfraun]

I will be closing on my first home in Texas at the end of this month, after renting here for 8 months.

I understand the homestead exemption and will file for one, but I have a question about it that I can't understand, based upon the traviscad and wcad websites....

I know someone here can help me.

It says that one must be the owner as of January 1 of the tax year, and that the owner has until April to file for the homestead exemption.

So, it's tax year 2008, taxes due by 31 Jan 2009. I will close at end of Feb 2008 and can file paperwork immediately, and certainly by April 2008. But I will not be the owner as of Jan 1, 2008--the seller is. Seller lives in a different house and currently does not have a homestead exemption on the house we are buying.

So because I won't own the property until after January 1, 2008, does that mean that I cannot take the homestead exemption for 2008? That would stink!

Thanks for helping me to understand this, folks....

[rickycc]

Hi schoenfraun, I am in a similar situatiuon like yours. Closed my new home on Jan 15th of this year so don't know if Homestead will apply to this year taxes or will only apply starting next year.

[FalconheadWest]

This is an old post, so who knows if schoenfraun ot her answer, the homestead will not take effect until next year, espeically since the house currently had no homestead on it. You must own the house January 1, plain and simple. This is why there is usually a mad dash to close on houses before Dec 31 each year. People want the tax write off from closing costs, but also want that homestead exemption.

As for rickycc, you didn't mention if there was already a homestead on your house. If there is, it will grandfather through the rest of the year, but you will need to still file next year to keep it on.

All other exemptions ARE allowed to be claimed in addition. They are not related to each other. Each exemption is separate in and of itself. If you're disabled, you can claim the disability exemption also.

[lvillas]

can an illegal alien file a homestead exemption if they do not own the property and are here illegally and do not own title outright?

[TexasHorseLady]

Originally Posted by lvillas

can an illegal alien file a homestead exemption if they do not own the property and are here illegally and do not own title outright?

No. Leaving the whole "illegal" red herring out of it, if you don't own the property, you don't pay the taxes on it (directly), and thus you don't get the exemption. The homestead exemption only applies to property that the owner lives in.

[staubach]

Any issue filing homestead for someone who lives in Texas, but never changed their Driver License from their original state?