There's Still Time to Use the Homestead Exemption as a Closing Tool...
By Karen Anne Stone, Fort Worth Real Estate
(New Home Hunters of Fort Worth and Tarrant County)
Earlier this year I wrote a blog post about the Homestead Exemption in Texas. I've received some requests for some additional ideas on the subject... so here goes:In Texas, we Texans are very proud of our homes. We treasure them. It appears the Great State of Texas treasures them, too. The Homestead Exemption is just one more thing Texas has done to encourage home ownership.The basic Homestead Exemption is sort of like a "discount" on a homeowner's real estate taxes. In Texas, if you take title to a home by the end of any calendar year... and if you use that home as your primary home... your "homestead..." Texas allows you to apply for the Homestead Exemption. How it works in brief is this. There are many different "entities" that tax Texas homeowners. A city tax, school distric...
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