By Allie Beth Allman & Associates
6:00 AM on Jan 16, 2022 CST
A new law that went into effect on Jan. 1 allows homeowners to file for homestead exemptions in the year they purchase the property.
Previously, new homeowners had to wait until the following year to file the exemption.
The homestead exemption can reduce the amount of property taxes a homeowner must pay each year by removing part of the home’s value from taxation, according to HSTX Title. The exemption applies only to a principal residence and cannot be applied to a second property.
To apply, contact the county appraisal district and request the necessary forms for declaring your homestead or download the forms from the appraisal district website. The appraisal district should automatically send an application form to all new property owners around Feb. 1.
The completed application and required documentation are due no later than April 30 of the tax year for which you are applying, although you can file for an extension in some cases.
This is a free service. A knowledgeable real estate agent also can provide insight into the process.
Here’s how to contact local county appraisal districts:
Collin County – 469-742-9200 or www.collincad.org.
Dallas County – 214-631-0910 or www.dallascad.com.
Denton County – 940-349-3800 or www.dentoncad.com.
Tarrant County – 817-284-0024 or www.tad.org.
For answers to frequently asked questions, visit the Texas Comptroller of Public Accounts’ website: https://comptroller. texas.gov/taxes/property-tax/ exemptions/residence-faq.php.
Luxury leader Allie Beth Allman & Associates sells more homes priced at $2 million and above than any other brokerage, according to Multiple Listing Service statistics. To connect with a luxury real estate expert, visit alliebeth.com.