Texas Relocation: Texas Homestead Exemption Changes For 2012

Texas Relocation: Texas Homestead Exemption Changes For 2012
By Timothy Thornton

Living in Texas comes with certain benefits and privileges that not all states afford. First of all, we have no state income tax. Our job market continues to grow during these tough and uncertain economic times. We host a wide variety of cities, cultures, large cites, social cultures and a very welcoming bunch of people. No two major cites in Texas are alike–and possibly most unique among Texas cities is Austin–the most non-Texas city in the bunch. But Texas has a lot to offer its residents and those who are considering a relocation to the area from other parts of the nation. One of the benefits of living in Texas is our Homestead laws. Texas does a good job of attempting to protect its residents. Life. Liberty. Economic well being. Here is one such example.

If you purchased a home in Texas in 2011 and you are living in the house on January 1, 2012 as your primary residence, you should be eligible to apply for your Texas Homestead Exemption. As a Texas homestead owner, you have certain privileges associated with your primary residence. Tax protections. And if you are a senior citizen, you may have additional benefits from this law–like being able to freeze your Texas property taxes.

A few things to remember about the Texas Homestead Exemption:

• You must be living in the home on January 1st to qualify for the coming year.
• Do not send in your Homestead application early. You can not file until after Jan. 1st.
• Application for Homestead in Texas is free. You do not have to pay someone to file your homestead exemption. It is free to apply and should only take you a few minutes. If you get a letter in the mail from what appears to be an official state organization with a very official looking seal, don’t fall for this little production. You can fill out the real application for Homestead Exemption yourself in the same amount of time and file it for free.
• Only your primary residence qualifies.

A few things you should know about the Homestead law: This summer’s Texas House Bill 252 changed the proof of residency requirements for homeowners that are applying for the property tax homestead exemption.

The new Texas Homestead Exemption law (changes to the existing law) requires that applicants provide the following proof of ownership:

• Application for residential homestead exemption
• Proof of Texas Driver’s License or Texas Identification Card with matching property address to the homestead you are claiming
• Proof of Vehicle Registration Receipt. Again, the address must match the property address for your new Texas homestead.

For a Homestead Exemption form and full details on your eligibility for qualification–see your local County Tax Assessor’s Office.

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