Homestead exemption gives you $100,000 off on your appraised value for school district taxes. Seniors and disabled homeowners get an additional $10,000 off. Your county government may offer $3,000 off on the appraised value. Other taxing units may offer upto 20% off with a minimum of $5,000. They may also offer seniors and disabled persons an additional $3,000 off on the appraised value.
YES! It is definitely worth it. Not claiming your homestead exemption is like throwing away money! You can save a couple of hundred dollars on your property taxes by claiming your homestead exemption. If your school district tax rate is 1%, then you save $400 on your property taxes! Other taxing units in your county may also offer either a fixed exemption or a percentage exemption. If you are a senior or disabled, you get even more exemptions. And the best part is that applying for a homestead exemption is free!
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