01
Market Value and The Homestead Cap
Per the Texas Property Tax Code, all taxable property must be valued at 100 percent of market value as of January 1 each year. This value is shown on your notice as “Market Value.” Because it is based on recent sales, the Market Value may change upwards or downwards any amount...
02
Do You Qualify for a Pro-Rated Exemption?
Starting January 1, 2022, state law allows
property owners to claim a pro-rated general residence homestead exemption on a
property that becomes their principal residence at any point in the year.
Previously, property owners could only claim this exemption if they owned and
lived in the home as of January 1.
03