Homestead Exemption Tips

๐ŸŽˆ ๐ŸŽˆ Learn how the Homestead Exemption helps you and why you should make sure this money ๐Ÿ’ฐ saving tax break is filed for your home๐Ÿก. FREE ๐Ÿฆ‹ Money! We are here to help with any questions! ๐Ÿ“ž469-744-6715๐Ÿ“ž

Homestead Exemption Tips

Hi there! Itโ€™s Stephanie Carter of the Monarch Team at Keller Williams in Flower Mound. Today weโ€™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 havenโ€™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.

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