“Can I apply for a Texas Homestead exemption?” This was the question asked of me by a recent past client after she received her 2011 property tax bill. She had purchased the home in May of 2011 so she was not eligible for the exception in 2011. The law requires that you own and occupy the home on January 1 of the tax year.
Many people think the primary benefit of the homestead exemption is a reduction in property taxes. While the savings is nice, the most important thing is that homestead laws prevent any creditor (except for the mortgage holder, a taxing authority, or the holder of a note created for a home improvement loan) from forcing the sale of the homestead to satisfy nonpayment of a debt.
On September 1, 2011 the state law was updated and applicants for a homestead exemption are required to provide a copy of their Texas Drivers License and a copy of a vehicle registration with the application. Note that the addresses on the two documents must match the property address on the application.
Links to local appraisal districts in the greater Dallas area:
Collin County | Dallas County | Denton County | Rockwall County
Applications for the 2012 exemption have to be received by the approriate appraisal district no earlier than January 1, 2012 and no later than April 30, 2012.
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Source: The Texas Homestead Exemption << The Branch Team
Tom Branch and Gina Branch, The Branch Team with RE/MAX Dallas Suburbs, service the greater North Dallas suburbs including Dallas, Plano, Allen, McKinney, Frisco, Lewisville, and Carrollton. While Gina concentrates on traditional listings and buyer/tenant representation, Tom specializes in assisting distressed homeowners to avoid foreclosure. Tom and Gina have published two books (Achieving Rock Star Status and The Field Guide to Short Sales) and are available for speaking engagements in the greater Dallas - Fort Worth Metroplex. Subscribe to The Branch Team Blog.
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The Branch Team - Texas Real Estate Broker 547597 | Team Members are Texas Licensed Real Estate Professionals
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Important Notice: The Branch Team with RE/MAX Dallas Suburbs is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.
All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.
