Signature Insights on Houston Real Estate

If you purchased a home last year and occupied it as your primary residence by January 1, 2013, and you aren’t currently claiming homestead on a different property, you are eligible to lower your property taxes through filing for your homestead exemption in the country where the property is located.

Here’s how it works: The taxing authorities (school district and county) allow you to remove part of the taxable value of your home for tax purposes since you are using the property as your residence. For example, if your property is valued at $100,000 and you qualify for a $20,000 exemption, you would pay taxes on just $80,000 therefore reducing your property taxes significantly. The deadline to file is between January 1 and April 30th, 2013 – You cannot

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