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Video instructions and help with filling out and completing Can Form 8815 Exempt

Instructions and Help about Can Form 8815 Exempt

Taxes nobody likes them everybody pays for them I'm sure when you thought about purchasing at home you heard about the tax savings you can get from that well now you own your own home and you pay your own property taxes you want to pay us the widows you have to because who wants to pay more well the good news is that you can reduce the property taxes that you pay by cleaning at home city section hi guys I'm Kyle favi and welcome to real estate real answers here we provide you with honest answers to your real estate questions today I want to help you understand how you can save money and your property taxes by claiming a homestead exemption first of all what is a homestead exemption well a homestead exemption removes a slice of your home's value from being taxed a homestead is any structure condominium or manufactured home a piece of property that you own of less than 20 acres to claim your homestead exemption there's a few criteria that you have to meet first of all you have to own your home and have to use it as your primary residence as of January 1st in the year for which you are applying for your homestead exemption also the address on your driver's license or state-issued ID has to match the address of the property for which you're cleaning your home selection secondly how much is your homestead exemption well touches long mandates that all school districts must provide a $25,000 exemption for property tax so if your home is worth $100,000 that means that you're only going to be taxed on $75,000 of that Texas law also allows other tax units to provide exemptions to you if they choose and that...

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