Homestead Exemption Changes in Texas for Property Owners

O'Connor and Associates is fighting for a property tax reduction for Texas residents by staying current on changes for your homestead exemptions.

HOUSTON, TX, UNITED STATES, February 14, 2025 /EINPresswire.com/ -- Texas residents should be aware that they may soon have the chance to vote on an additional increase to the existing homestead exemption. Keep reading to find out about the lasted updates on Texas Homestead Exemptions.

Exemption Amount Changes
In 2024, the school district exemption amount was increased to allow $100,000 of the value an owner’s primary residence for exemption from property taxes. This is up from only $40,000 that homeowners were able to exempt in the past. The current proposed change will bring the general residence homestead exemption up to $140,000. This is the most significant exemption since Texas lawmakers reformed property tax administration in 1979.

Homeowners over the age of 65 and disabled property owners still benefit from a homestead exemption of $10,000 over the standard homestead exemption, making their total new exemption $150,000, providing even greater property tax relief. In plain English, the taxable value for these homeowners decreases. Individual tax savings will vary depending on the value of your property and your local tax rates.

Five-Year Audit of Homestead Exemptions
Another important change is the new five-year verification process. Texas county appraisal districts will begin confirming the status of a homeowner’s homestead exemption at least once every five years. The state advocates this change as a check to make sure the correct homeowner is getting the exemption in case a property may have sold or otherwise changed status, but residential property owners need to on the alert to promptly respond to verification notices because missing out could cause you to lose your exemption, leading to an increase in property taxes.

How to Apply or Verify Your Homestead Exemption
Here are the steps to file or verify your homestead exemption:

1. Get the Application Form – visit your county’s appraisal district website to access the homestead exemption application form or download the application form on O’Connor’s website.
2. Fill out the application form with accurate and up-to-date information.
3. Include a copy of your current Texas driver’s license or state-issued ID and proof of residency, such as a utility bill or voter registration card, if required.
4. Applications can be submitted by mail, online, or in person through your county’s appraisal district’s online services.
5. If you receive a verification notice from your appraisal district, do NOT ignore it. Respond with any requested information to maintain your exemption status.

Important Deadlines
The completed application and required documentation are generally due no later than April 30 of the year for which the exemption is requested. Application for the exemption is free. The good news is that if you’ve missed this deadline or if you failed to claim your exemption in the past, property owners are allowed to file the homestead exemption retroactively for up to the previous two years. If you have already made payment on your property taxes for the years in which you claim the retroactive exemption, you will get a refund from the county. By staying informed about these changes and ensuring compliance with the new requirements, Texas homeowners can continue to benefit from the financial relief provided by the homestead exemption.

How Can O’Connor Help You
O’Connor’s Property Tax Protection Program™ is a risk-free program that gives Texas homeowners the opportunity to reduce their property tax payments with the help of our consultants. By partnering with O’Connor, our team of property tax experts will file, prepare evidence, and protest assessment values on your behalf. We represent you in informal hearings, before the Appraisal Review Board (ARB), and even coordinate judicial appeals or binding arbitration when necessary. Our consultants defend your value by providing evidence to support both market value and unequal appraisal at hearings. Since we operate on contingency, you only pay when we win.

About O'Connor:
O’Connor is one of the largest property tax consulting firms, representing 185,000 clients in 49 states and Canada, handling about 295,000 protests in 2024, with residential property tax reduction services in Texas, Illinois, and Georgia. O’Connor’s possesses the resources and market expertise in the areas of property tax, cost segregation, commercial and residential real estate appraisals. The firm was founded in 1974 and employs a team of 1,000 worldwide. O’Connor’s core focus is enriching the lives of property owners through cost effective tax reduction.

Property owners interested in assistance appealing their assessment can enroll in O’Connor’s Property Tax Protection Program ™. There is no upfront fee, or any fee unless we reduce your property taxes, and easy online enrollment only takes 2 to 3 minutes.

Patrick O'Connor, President
O'Connor
+1 713-375-4128
email us here
Visit us on social media:
Facebook
X
LinkedIn
YouTube