Home Sweet Savings: How to Apply for a Texas Homestead Exemption
What Is a Homestead Exemption?
A homestead exemption reduces the portion of your home’s value used to calculate certain property taxes. It does not lower your home’s market value. It lowers its taxable value.
Under current Texas law, qualifying homeowners receive a $140,000 general homestead exemption for school district taxes. For example, if your home is appraised at $300,000, the exemption means school district taxes are calculated on $160,000 before any other applicable exemptions or adjustments.
Can a New Home at Grange Qualify for a Homestead Exemption?
You betcha! A new construction home can qualify when you own it and use it as your primary residence. To qualify, you cannot claim a residence homestead exemption on another property in Texas or out of state. In other words, this benefit is for the home where you live, not simply a property you own.
To Start, Find Your Appraisal District
You must apply via the county appraisal district responsible for your property. For a Grange home, start with the Waller County Appraisal District. Be sure to confirm your home’s county and appraisal account before submitting your application.
Gather Your Documents
You will generally need your property information and a copy of your Texas driver’s license or state-issued ID showing the same address as your new home. Exceptions apply in some circumstances, so review the application instructions closely.
Complete the Application
Use your appraisal district’s application process or use the state’s 50-114 Residence Homestead application that you can find here. Follow the instructions, attach the required documents, and be sure to keep a copy for your records. If you use the state comptroller’s application, you must still submit it to your county appraisal district.
Submit and Follow Up
The deadline to submit is usually April 30. If you miss the date, don’t assume you have missed your chance. Qualifying homeowners can file a late application up to two years after taxes become delinquent. Once you have submitted your application, check your property record after processing to confirm the exemption has been applied. Once approved, your exemption continues unless your eligibility changes or the appraisal district requests a new application.
Settle In and Make the Most of Your New Grange Home
A homestead exemption is one of the practical perks of making a new home at Grange your primary residence, so don’t delay, it’s quick and easy so you’ll be enjoying the Grange lifestyle before you know it.
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