Did you purchase a new residence in 2020? If so, it’s time to file your homestead exemption! A homestead exemption helps you save significantly on taxes on your home. This exemption removes part of the value of your property from taxation, which can considerably lower your taxes. In Harris County, you can get up to a 20% tax break when you file the homestead exemption. For example, if your home is valued at $100,000 and you qualify for a $20,000 exemption, you pay taxes on your home as if it was worth only $80,000.
Applying is simple – but it is time sensitive. Applications are accepted from January 1st to April 30th, and fortunately, it’s a one-time process for the duration that you live in the home you’re applying for. In Harris County, you can apply straight from your smart phone on the HCAD app. The new, easy-to-use app allows you to submit your application by providing images of the front and back of your driver’s license as well as check the status of your application. In addition, you can also lookup your iFile number if needed by simply scanning your driver’s license!
A couple of important tips before you prepare to apply for your homestead exemption:
Also, it’s important to know exactly what exemptions could be available to you. You may qualify for:
If we can help you navigate your homestead exemption application or provide any additional information, please don’t hesitate to call The Lippincott Team at 713-494-1818 or check us out on social media!
We worked with Amy Lippincott's team when selling our house in Bridgeland and when buying our new Bridgeland house. The personalized service they provide their clients is unequaled and they are unquestionably the best realtor team in Cypress.
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Best Realtor in Cypress! Amy walked our family through every step of purchasing our new home with professionalism and experience. Team Lippincott made us feel as though we were their #1 priority! If you are looking to buy or sell real estate in Northwest Houston, I highly recommend Team Lippincott! Simply THE best!
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The Lippincott Team was awesome to work with! They were thorough, patient with my many questions & responded quickly. I knew I was in great hands & loved working with them!