As you already know, Texas homeowners are allowed a homestead exemption on their property taxes for their principal residence. This typically will reduce the taxable amount for school taxes by $25,000 but may also give you an additional break depending on other qualifications. Homeowners, especially first time buyers, sometimes forget about filing the exemption or may not even realize that it exists.
Sending a reminder about filing their homestead exemption is a great way to reconnect with clients you’ve had over the last year or so. Even if they’ve already filed it, they will appreciate the thought of trying to help them out. Below are links to FAQs and homestead exemption form from the State. While these are great to use, we recommend providing a link to the form provided by their local county appraisal district website (if available) along with some info on what it is and why they should file it. Many title companies will often put this information together as well so check with your favorite closer to see if they have anything you can use.
Bonus!
We also recommend adding some info on how they can protest their property taxes if they feel their tax property values haven’t been fairly assessed. Many will know about the homestead exemption but are often frustrated by their county’s ever-increasing tax valuations. The steps for protesting can typically be found on the local county tax appraisal website. To really help them out, offering to do a CMA for them may provide great proof for showing whether or not the tax appraisal value is out of line. Staying in touch with your past clients, especially if you’re helping them in some way, is a great way to build up your sphere of influence.
