Real Estate in Rockwall County
Lacy Deckard, Realtor

What is a Homestead Exemption?

It’s time to file your homestead exemption if you have not done so already!  Filing your residential homestead exemption is a great chance for homeowners to combat high Texas property taxes as well as reduce financial stress.  This opportunity is available to owners who live in the subject property (i.e. owners who are not leasing their home to tenants).

Filing this exemption is free of charge and simple to do by clicking here to download the exemption form, completing the form, and submitting it to your local CAD office.  I am often asked, “What is a homestead exemption?”  A homestead exemption removes part of the value of your home and reduces your property taxes by lowering its taxable value.  The homestead exemption entitles the homeowner to a $15,000 reduction in value for school tax purposes.  Counties, cities, and special taxing districts may offer homestead exemptions up to 20% of the total value.  For example, if your home is valued at $50,000 and you receive a $15,000 homestead exemption, you will only pay taxes as if it were worth $35,000 for school tax.  Tax benefits can include a tax savings per year, and can also prevent your assessed value from increasing more than 10% annually! Exemptions must be filed between January 1st and April 30th, and you must reside at the subject property as your primary residence on January 1st of the application year.  

I am committed to providing you with outstanding service before, during and after the purchase or sale of your home.  I understand that you have a choice when buying and selling your home and I sincerely appreciated the opportunity to assist you.  If I can ever be of any assistance to you, your family or your friends, please call me at 972-849-4495.  I am here when you need me!

Thank you!

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