D
id you purchase a home in Texas last year? Has it been your primary residence? If so, you should file your residence homestead exemption.
Why should you file a homestead exemption? There are plenty of reasons, including…
- Protecting your property from creditors attempting to force the sale of your home
- Making sure the surviving spouse may keep the home in the event of the other spouse’s death
- Saves you money on your annual taxes by deducting a large amount of money from the property assessment, which is used to figure out school taxes
- Allows the homeowner to vote on proposed property tax increases
- Additional tax breaks for owners who are disabled and/or over 65 years old
The homestead exemption is not given automatically. It is fairly simple to take care of, though. A form from your county must be filled out and submitted along with a copy of your new driver’s license, showing your home address.
Want more good news? There are no fees involved with the filing of this application. Once it’s filed, you never have to file one again as long as you continue to live at that residence.
To make it even easier, here are links to quickly find the needed forms for the Frisco area counties:
Collin County Homestead Exemption Application
Dallas County Homestead Exemption Application
Denton County Homestead Exemption Application
Have questions about the homestead exemption for your new home? Contact your Frisco real estate expert, Judi Wright. Thinking of buying or selling a home in the New Year? Search Frisco homes for sale or request a complimentary market analysis of your home’s value.
About Judi Wright – Trusted Real Estate Expert
With over 50 years of experience in the Dallas-Fort Worth area and 23 years as a Real Estate agent, Judi is one of North Texas’ most trusted and accomplished real estate professionals. As an award-winning Top Realtor, she has built a reputation for excellence, integrity, and personalized service throughout Collin, Dallas and Denton counties (and beyond). Judi treats every client like family and works hard to deliver an experience worth recommending. References and testimonials are available upon request and Judi would be honored to earn your business.
