Gavel Insight

Filing for a homestead exemption in Fort Worth can save homeowners a significant amount on their property taxes, and it's a process that can be done with a little know-how and preparation. Below, you’ll find a comprehensive guide explaining the steps you need to take to successfully file a homestead exemption in Tarrant County, Texas. **Understanding the Homestead Exemption in Texas** Before diving into the filing process, let's get clear on what a homestead exemption is. In Texas, a homestead exemption removes part of your home's value from taxation, thus lowering your property taxes. It’s offered only on your principal residence. **Eligibility Criteria for a Homestead Exemption** To qualify for a homestead exemption in Texas, you must: 1. Own the property as of January 1st of the tax year. 2. Use the property as your principal residence as of January 1st. 3. You (the homeowner) cannot claim a homestead exemption on any other property. **Types of Homestead Exemptions in Te...