Homestead Exemption Can Lower Your School Tax Bill

Texas law lets you reduce your school district taxable value by $140,000 if the home is your primary residence as of January 1. You also get a 10% annual cap on how much the appraised value can rise each year once the exemption is in place.

To apply, file Form 50-114 with the Erath County Appraisal District. You need a copy of your Texas driver's license or ID showing the property address. The deadline is April 30, but late applications are accepted through January 31 of the following year. There is no fee to apply. Beware of any company that charges you to file — ECAD warns this is a scam.