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Old 05-24-2011, 08:05 PM
 
Location: West Round Rock
433 posts, read 1,657,910 times
Reputation: 212

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What he meant was, once you file as the new owner, that homestead exemption will stay until you:

1) sell the house
or
2) move out and notify them that it's a rental
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Old 05-25-2011, 08:54 AM
 
4,710 posts, read 7,102,284 times
Reputation: 5613
When we closed on our house, the title people told us that the homestead exemption from the last owners would stay in effect this year, that we would need to apply for it next year. I assume that we could send it in at any time. We are also going to be applying for a disability exemption, which I think you can do at the same time. We are waiting for our disability to be approved by social security first.
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Old 05-25-2011, 12:50 PM
 
Location: Round Rock, TX
1,317 posts, read 4,057,863 times
Reputation: 766
Based on the county records for my house, I'm the fourth owner (it was built in 1984) and I have been the ONLY one to ever file a Homestead on it! WTH?

I guess the other folks didn't mind paying more in taxes!
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Old 11-08-2011, 03:21 PM
 
1 posts, read 2,037 times
Reputation: 10
I need to no if I am living in a home with my mother and she dies, do I loose the homestead exemption?
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Old 11-08-2011, 05:19 PM
 
Location: Austin, TX
16,787 posts, read 49,068,148 times
Reputation: 9478
Quote:
Originally Posted by Jrm364 View Post
I need to no if I am living in a home with my mother and she dies, do I loose the homestead exemption?
You might have to reapply for the homestead exemption, but pretty much anyone can get it if its your primary home and you are the person paying taxes on it.
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Old 11-09-2011, 08:40 AM
 
437 posts, read 792,652 times
Reputation: 306
Relax, the Texas Homestead Exemption is only 20%. A pittance for an average home price of $280,000. The exemption should be at least 50%. Where are the so called politicians? Busy with their lobbyist friends, I guess. I am not privy about those lobbyist things since I am only a middle class taxpayer.
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Old 11-09-2011, 08:49 AM
 
Location: Round Rock, TX
1,317 posts, read 4,057,863 times
Reputation: 766
Quote:
Originally Posted by jdrtx View Post
Relax, the Texas Homestead Exemption is only 20%. A pittance for an average home price of $280,000.
I thought it was 10% ??
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Old 11-09-2011, 10:53 AM
 
10,130 posts, read 19,879,750 times
Reputation: 5815
Quote:
Originally Posted by mickey65 View Post
I thought it was 10% ??
Actually like everything with property taxes, it's way too complicated.

The 10% is a cap on how much your home appraised value can ever increase in a single year. This can actually be quite valuable, especially during a boom time where a home could increase in value really fast... like if your $200k house became a $400k home in 5 years, with the homestead exemption it could only rise to $322K in appraised (taxable value). So at that point, your homestead exemption is worth a whole lot more than 10%.

Besides the cap, there is the actual exemptions on the value, which vary from taxing entity to taxing entity. It's $15,000 off the value of the home for ISDs (which are usually the biggest single chunk of property taxes), but for other entities it can be as high as 20% (although there are caps).

Exemptions

Anyway, in my experience, the homestead exemption usually leads to hundreds of dollars of yearly savings on the property taxes. The cap can ultimately lead to thousands in savings, especially if you can also successfully protest your appraisal during a down year. So you definitely want to take advantage of it.
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Old 02-05-2013, 08:40 AM
 
2 posts, read 5,228 times
Reputation: 10
I recently moved to the Dallas area from kansas. I am a renter and I was able to file "homestead" for renters last year. in kansas you get a check for paying rent. is that how it works in Texas? I cant find anything that can help online!
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Old 02-05-2013, 11:47 AM
 
Location: Austin, TX
16,787 posts, read 49,068,148 times
Reputation: 9478
Quote:
Originally Posted by amlamc88 View Post
I recently moved to the Dallas area from kansas. I am a renter and I was able to file "homestead" for renters last year. in kansas you get a check for paying rent. is that how it works in Texas? I cant find anything that can help online!
Never heard of anything like that in Texas. Here the Homestead Exemption applies only to a home owner, it has nothing to do with renters and a home owner cannot have a Homestead Exemption on a rental property.
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