AUSTIN (KXAN) — With a new year comes another chance for homeowners to save on property tax bills through homestead exemptions.
The Travis Central Appraisal District said homeowners can save even more on their property tax bills in 2022 with new laws regarding homestead exemptions going into effect.
Homeowners are now eligible to file homestead exemptions as of the date they own the property instead of having to wait for the next calendar year, and additional changes to the exemption specifically for homeowners older than 65 or disabled also kick in.
“On average, a homestead exemption saved Travis County property owners $1,126 on their 2021 property tax bill,” said Marya Crigler, TCAD’s chief appraiser. “Thanks to new laws and policies, property owners with homestead exemptions are set to enjoy even more reductions in 2022.”
County and city authorities increased tax benefits to those 65 and older as well as people and veterans with disabilities. In June, Austin City Council approved increasing the tax exemption from $88,000 to an amount not to exceed $113,000, and in May, voters could approve an increase in school district exemptions for the same group from $25,000 to $40,000.
“The new year will give property owners the chance to vote on exemptions that could lower the biggest contributor to their property tax bill — their school district taxes,” Crigler said.
City council also approved to increase the residence homestead exemption for city property taxes from 10% to up to a maximum of 20%, in line with state law.
TCAD will start a series of webinars regarding homestead exemptions and other tax issues at 11:30 a.m., Jan. 12. It’ll cover property tax bills, payment options and appraisal remedies.
“Travis County residents who have questions about the property tax system or need help with their exemption applications will have several options to connect with us in an easy and convenient way,” Crigler said.