Homestead exemption cuts your school tax bill

If you own and live in your home as your main residence, you qualify for a homestead exemption. Texas law requires school districts to exempt $140,000 of your home's value from school property taxes. That can make a real difference on your annual bill.

You file the exemption application with the Matagorda County Appraisal District, not the tax collector. The general deadline is before May 1 of the tax year, but check with the appraisal district for the current deadline. Use Form 50-114 from the Texas Comptroller.