Homestead exemption is a property tax break that reduces the taxable worth of your house. In Texas, you may apply for a homestead exemption when you personal and occupy your house as your major residence. There are two sorts of homestead exemptions: the final homestead exemption and the over-65 or disabled homestead exemption.
The common homestead exemption reduces the taxable worth of your house by $25,000. The over-65 or disabled homestead exemption reduces the taxable worth of your house by $40,000. To be eligible for the over-65 or disabled homestead exemption, you should be no less than 65 years previous or disabled.