Prorated Homestead Exemption

Prorated Homestead Exemption

There is NO need to wait until the new year to apply for a homestead or other exemptions & there are NO FEES associated with filing for any exemptions with our office!!

NEW LEGISLATION

(Effective January 1, 2022)

Prorated Homestead Exemption

·       Property owners may qualify for a general residence homestead exemption, for the applicable portion of that tax year, immediately upon owning and occupying the property as their principal residence, if the preceding owner did not receive the exemption that tax year.

·      Regarding the Homestead Cap, an owner who receives a prorated homestead exemption is considered to have qualified the property for the exemption as of January 1st of the tax year following the tax year in which the owner acquired the property. 

Application

· On our website www.wcad.org within the property search. Enter name, address, or REF ID to pull up property. Click HS exemption icon.

· On comptroller’s website https://comptroller.texas.gov/ Enter 50-114 into search.


    • Related Articles

    • Homestead Cap

      HOMESTEAD CAP Q. What is a Homestead Cap? (Sec. 23.23) Cap value applies to residential homesteads only. If this property is your residence homestead, the appraised value may not exceed the lesser of the market value of the property or the sum of: 10 ...

    • Homestead Exemptions Application: Form 50-114

      Homestead Application: Form 50-114 Property owners may qualify for a general residence homestead exemption, for the applicable portion of that tax year, immediately upon owning and occupying the property as their principal residence, if the preceding ...

    • Free To File Homestead Exemption

      Please note there is no fee to file for exemptions, and no need to reapply annually. Submitting an application is free although you may receive correspondence from a third party indicating they will file the Homestead application for a fee. The ...

    • Exemption Description

      Code Description AB Abatement AG Agriculture use AUTO Lease Vehicles Ex BI Builders Inventory CBL Circuit Breaker Limitation CDV Charity Donated DV Homestead CHDO04 Community Housing Dev 2004 CHDO08 Community Housing Dev -HB 3191 CHP Primarily ...

    • Residential Homestead Exemption: How to File Electronically

      Use the Property Search option to locate your property. Search by name, address, or account number. Click the HS Exemption icon to access the online Homestead application. Please review Things To Know Before Filing A Homestead Exemption as it ...