What is the Homestead Tax Exemption in Texas?

Do you own a property in Texas?

Is that property your primary residence?

If you answered YES to both of those questions you qualify for the Texas Homestead exemption.

The Texas homestead exemption allows you to reduce the appraised value of your home by $25,000!

So essentially, say you have a home assessed at $300,000 instead of paying taxes on the full value, you will only pay taxes on $275,000... With the average tax rate in the Killeen Texas area of 2.4%, that saves you $600 a year!

HOW DO YOU GET THE EXEMPTION?

To file your homestead exemption simply go to your county tax office with your ID that shows the SAME address as your residence and your closing documents from when you bought your home and let them know you need to file. IT IS FREE!

DO NOT, I repeat DO NOT, fall for the scams that come in the mail right after you buy a house, offering to file your exemption for you and asking you to enclose a check to do so… THIS IS A SCAM.

Also, if you are a disabled veteran, do not forget to also make sure you get those exemptions as well while you are there!