How Filing Your Homestead Exemption Now Could Pay For Your Holiday Shopping!

Within the last weeks I noticed that two of my clients whose homes I recently sold never filed for a homestead exemption!

A homestead exemption helps you save on taxes on your home (among other benefits). An exemption removes part of the value of your property from taxation and lowers your taxes. 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. (Harris County Appraisal District)

They both thought they had. Please make sure you have done so. Your County Appraisal District will credit you for ONE year only. This means for the year 2008 you could expect a check in the mail if you failed to file. Simply fill out the form and fill in the year 2008. This would then provide you a credit for 2008 and 2009 taxes. This same rule applies for all other Appraisal Districts. Just think this savings could pay for your all of your Holiday Shopping!

To find more Money Saving Tips in my book, Make No Mistakes About Buying Real Estate.