INSIDE INFORMATION
2022 REAL ESTATE EDITION
THE SCOOP ON HOMESTEAD EXEMPTIONS COMPILED BY VANESSA HOLT & JAKE MAGEE Homestead exemptions are a way for Texas homeowners to save money on their property tax bills. There are several di erent types of homestead exemptions available, and they o er varying bene ts. To apply, contact the Harris County Appraisal District at 713-957-7800 or www.hcad.org, or the Montgomery Central Appraisal District at 936-756-3354 or www.mcad-tx.org. SOURCES: TEXAS COMPTROLLER, HARRIS COUNTY APPRAISAL DISTRICT, CONROE ISD, MONTGOMERY CENTRAL APPRAISAL DISTRICT COMMUNITY IMPACT NEWSPAPER
WHAT IS A HOMESTEAD EXEMPTION? Exemptions allow homeowners to save on property tax bills. An exemption includes withheld value and a homestead cap.
WITHHELD VALUE
HOMESTEAD CAP
With exemption Appraised value
A homestead exemption removes some or all of a home’s value from being taxed. School districts must o er a $40,000 exemption, and other entities may exempt up to 20% of a home’s value.
In addition, a homestead exemption limits the increase of your appraised property value to 10% annually so long as no additional improvements or extensive renovations are made to the property.
$300,000
– $40,000 School district exemption
Without exemption Appraised value
Appraised home value 2021: $300,000 2022: $360,000
20%
$300,000 $0.011760*
$260,000 $0.011760*
Conroe ISD 2021-22 tax rate
Conroe ISD 2021-22 tax rate
X
X
Taxable value without exemption 2022: $360,000
Total owed to CISD
Total owed to CISD
$3,528.00
$3,057.60
*TAX RATE IS THE DISTRICT RATE DIVIDED BY 100.
Taxable value with exemption 2022: $330,000
$3,528.00
= $3,057.60
$470.40 Savings with exemption
–
TYPES OF
LOCAL EXEMPTIONS The following general exemptions exist for qualifying homeowners in The Woodlands area. County appraisal districts can provide a comprehensive list.
Various homestead exemptions are available to Texan homeowners. General residence , the most common and easiest exemption to get, is for a homeowner’s primary residence. Age 65 or older exemption gives an additional $10,000 o for school districts in addition to the $40,000 general residence exemption. This exemption also exemptions vary but can equal up to 100% of a home’s value from all taxing entities. Spouses of persons killed in line of duty exemptions can withhold 100% of a home’s value from taxation, so long as the surviving spouse has not remarried. freezes school district taxes. Disabled persons and veterans HOMESTEAD EXEMPTIONS
SCHOOL DISTRICT EXEMPTIONS Conroe ISD o home’s value $40,000
CITY EXEMPTIONS
COUNTY EXEMPTIONS Montgomery County
The Woodlands Township* o home's value 10%
20%
o home’s value
Magnolia ISD
Shenandoah
o home’s
value $40,000
20% o home's value
Harris County
20%
Tomball ISD
Oak Ridge North
o home’s
value $40,000
20% o home's value
o home’s value
*THE WOODLANDS TOWNSHIP IS A SPECIAL PURPOSE DISTRICT.
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SHSU The Woodlands Center | 3380 College Park Dr., Suite 101 | The Woodlands, TX 77384 | Phone: (936) 294-3737
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THE WOODLANDS EDITION • JULY 2022
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