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For tax savings file your homestead exemption

Filing your homestead exemption keeps some of your money back in your pocket
photo owned by Darby Middlebrooks

As a homeowner, there are several types of exemptions you can claim on your home. Exemptions will affect the amount of taxes you pay on your home. If you’re disabled you might have that exemption. If you are over 65, you would use that exemption. But one exemption that is available to everyone who lives in his or her home is the Homestead exemption. However, every year many homeowners are not receiving this exemption they are entitled to, because they did not file for it.
When you purchase a home as your primary residence, you are entitled to claim the homestead exemption. However, is it your responsibility to file the paperwork for it. If you don’t, you don’t get the exemption. Unfortunately, is it not retroactive. If you forget to file, you cannot get a refund for overpayment of taxes. It starts when you file the exemption.
As a homeowner, the first thing is to file the paperwork in January following the year you bought your home. If you are not sure you have the exemption, go to the appraisal district online and pull up your account by your address or your name. On the bottom of the page from the appraisal district that has your information, it will list what type of exemption you have. You can only have one. If you have just purchased a home and you are disabled or over the age of 65, see which exemption you would benefit from the most.
Filing for a homestead exemption is quick, easy and free. The benefit is knowing you are getting that deduction in taxes.

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