🎈 🎈 Learn how the Homestead Exemption helps you and why you should make sure this money 💰 saving tax break is filed for your home🏡. FREE 🦋 Money! We are here to help with any questions! 📞469-744-6715📞
Hi there! It’s Stephanie Carter of the Monarch Team at Keller Williams in Flower Mound. Today we’re going to talk about the homestead exemption and a common misconception that a lot of people have. Most buyers know that by filing the homestead exemption, you save a few hundred dollars on your property taxes every year. But the real value of the homestead exemption is that it creates a 10 percent cap on your taxable value increase. So for example, if you have a house for $250,000, the county can only tax you on a $25,000 increase over the previous year. In a market where we have 15, 20, sometimes 25 percent increases, that can save you a lot of money.
So if for some reason you haven’t filed your homestead exemption, you might look into it. And if you need any help or have any questions, just send me a message below. Hope that helps and have a great day.