Homestead Exemption Gap question (2015, new house, calculation)

[theking_z]

I bought an old home mid-last year and the previous owner had homestead exemption on the house. I paid property tax on the house earlier this year (January) which I believe was the tax for 2014. It had the exemptions on the paperwork.

I applied for my own exemption January of this year. Now that I got the appraisal for this year from Fort Bend county, I see that they also mention proposed exemption for 2015 calculations. Does it mean that there is no gap in my homestead exemption?

I heard that the owner do not get the exemption unless they live in the house during January 1 of that particular year. Is that only for brand new houses? I am a little confused.

Thanks a lot.

[slbnoob]

What is HS "gap"?
Do you mean "cap"?

[baggiegenes]

There is no gap in your homestead exemption, you will get the discount on your taxes this year as well. The gap is on the appraisal cap. The year you file for your exemption the appraised value can increase by more than 10%. That would be on your appraisal for this year. Going forward you will have both the exemption and the appraisal cap.