TIME TO FILE FOR YOUR HOMESTEAD EXEMPTION

If you purchased a home in 2012 as your primary residence now is the time to file for your homestead exemption in order to save you hundreds of dollars on your taxes.  The deadline to file for this exemption is April 30, 2013.

To Qualify for the Homestead Exemption:

1.  You must own your home on January 1st.

2.   You must occupy and use the home as your principal residence on January 1st.

3.  A residence may be owned by an individual through an interest in a qualifying beneficial trust and may be occupied by a trustee of a qualifying trust.

4.  Your homestead can be a separate structure, condominium or a manufactured home locate


5.  If you have more than one house, you can only get a homestead exemption for your principal residence.  If you temporarily move away from your home, you can still get an exemption if you don’t establish another principal residence and you intend to return.  For instance, if you enter a nursing home but have the intent to eventually return to your home, your home still qualifies as your homestead.
d on a leased land, as long as you own it.  Your homestead can include up to 20 acres if the land is used and maintained as part of your yard.

6.  Renting part of your home or using part of it for a business doesn’t disqualify the rest of your home for the exemption, however, you may not receive a homestead exemption on any part of the property that is rented out to others or used primarily for business purposes.

7.  Neither you nor your spouse, if you are married, may claim a residence homestead exemption on any other residential property, no matter where that property may be located. To illustrate, if you own a home in Montgomery County and a resort property on a lake in another county, you may only claim the homestead exemption on the one property which is your principal residence.  Likewise, you and you spouse (if you are married) may only claim one homestead exemption.

Below are lin

ks to MCAD and HCAD where you can download homestead exemption forms, complete and return them no later than the deadline to the appropriate address indicated on the forms.

http://www.mcad-tx.org/html/forms.html

http://www.hcad.org/forms/default.asp?form=7

If you have any questions about filing a homestead exemption please contact our office at 281-363-5888 and we will try to be of assistance to you or direct you to the right people that can help.

As always, if you are looking to buy or sell a home, either residential or commercial, our licensed real estate experts will be happy to assist you.

 

cindy-texas team profile pic