Homestead Exemption

 

You need to file your Homestead Exemption before April 30th

You can apply here

**You will have to attach a copy of your driver’s license with your new home address. You can change your address online- here

 

What is your Homestead Exemption?

If you are using the home as your primary residence it is known as your homestead. The homestead exemption removes part of the value of your property from taxation which lowers your tax bill. Travis County offers a 20 percent exemption. For example, if your property is valued at $300,000 the homestead exemption would remove 20 percent off the value of your home ($60,000) so you would pay county taxes on your home as if it were worth only $240,000. That would be an annual tax saving of $1,425. 

 

Your tax rate is most likely 2.375%

$300,000 x 2.375% = $7125

$240,000 x 2.375% = $5,700

$7,125- $5,700 = $1,425 savings

 

You can find out your property value, tax rate and tax amount on the Travis County website. Click on Property Search and then type in your address or name into the search bar.

 

 


Leave a Reply

Your email address will not be published. Required fields are marked *

Contact Chloe