Homestead Exemption Cuts Your School Tax Bill

If you own and live in your home as your primary residence, you can file for the general residence homestead exemption. State law requires school districts to knock $140,000 off your appraised value before calculating school taxes. On a $250,000 home that means school taxes are figured on only $110,000. Other local taxing units may add their own optional exemptions on top.

You file Form 50-114 with the Calhoun County Appraisal District (Calhoun CAD), located at 426 W. Main St., Port Lavaca. The CAD also handles ag-use valuation, over-65, and disabled person exemptions. Check the CAD website or call before the filing deadline each year, since deadlines are set by state law and can change.

Once you are approved, the exemption renews automatically as long as you still own and occupy the home. If you buy a new home in Texas, you must file again. The Texas Comptroller's site has the current Form 50-114 and explains every exemption category.