A homestead exemption lowers the property taxes on your home by lowering its taxable value. If your home is valued at $50,000 and you receive a $15,000 homestead exemption, your home will be taxed as if it were worth $35,000.
Anyone who owns a home on Jan. 1 and uses it as a primary residence on that date is entitled to a $15,000 homestead exemption to lower school taxes this year...and it doesn’t matter if your home is a house, condominium or mobile home. Counties, cities and special taxing districts may also offer homestead exemptions.
If you’re disabled -- or if you’re 65 years old or older -- you are entitled to an additional $10,000 school tax exemption on your home. And if you qualify for the 65 or older or disabled exemption, you’re also entitled to a permanent, locked-in “ceiling” on the school property taxes on your home. (The county, city or junior college may adopt a tax ceiling to lock in 2011 taxes as the highest amount for 65 and older or disabled homeowners.)The age 65 or older homeowners’ school tax ceiling transfers to the surviving spouse, if the spouse is 55 years of age or older at the time of death and lives in and owns the home. The age 65 or older homeowners (or their surviving spouses55 years of age or older) also may transfer the percentage of school tax paid, based on their former home’s school tax ceiling, to a new home.
If you’re a disabled veteran who receives from the Veterans Affairs (VA)-(1) 100 percent disability compensation due to a service connected disability and (2) a rating of 100 percent disabled or a determination of individual unemployment, you are entitled to an exemption from taxation of the total appraised value of your resident homestead. A surviving spouse does not qualify.
No. If you had a homestead exemption on your home in 2007, you won’t need to reapply for 2008 unless your chief appraiser requires it. However, if you haven’t received an exemption on your present home -- or if you’ve moved to a new home -- you’ll need to file for an exemption for 2008. If you are 65 this year, you may file for the age 65 or older exemption up to one year after the date you turned 65. And if you became disabled, you need to file for the disabled person’s exemption.
File applications by May 1 at your appraisal district office. If you need more time, contact us at:
CAMERON APPRAISAL DISTRICT
P.O. BOX 1010, 2021 AMISTAD DRIVE
SAN BENITO, TX 78586
(956) 399-9322, (956) 428-8020, (956) 541-3365
www.cameroncad.org
Or contact:
Texas Comptroller
Susan Combs
Property Tax Division
P.O. Box 13528
Austin, TX 78711-3528
