Variations in Receipt of Benefit
No Variation in Receipt of Benefits
A homestead exemption of $3,000 of assessed value for general government purposes and an additional $25,000 for school district taxation is available to all homeowners. Those 65 or older, or disabled, are entitled to an additional exemption $10,000 for school taxation. An individual can benefit from more than one of these three options in a tax year. At local option, the exemption for general government on homesteads for seniors and disabled persons may be increased above $3,000. At local option, a governing body may adopt for all homesteads, a percentage exemption, up to 20% of the appraised value. If the percentage produces an exemption of less than $5,000 for a particular property, a minimum exemption of $5,000 is applied.
How is Benefit Disbursed
Exemption from assessed value
Eligible Property Type
Characteristics of Eligible Property
Only residential property is eligible for this program. The building and the land cannot exceed 20 acres.
Description of Eligibility Criteria
It varies according to the benefit. For the $3,000 general exemption and the $15,000 school district exemption every homeowner is eligible. Individuals who are over 65 or disabled are eligible for an additional $10,000 school district exemption. For surviving spouses of applicants 65 or older to qualify, the surviving spouse must be 55 or older to qualify.
Local Option in Adoption of Program
Local government is unable to exercise an option
Local Option Regarding Program Features
Local option regarding program features
State Funding for Local Tax Loss
Local government covers all of its tax loss
Residence Homestead Exemption FAQ [https://comptroller.texas.gov/taxes/property-tax/exemptions/residence-faq.php accessed 06/27/2018] View Archived Source