You qualify for an over-65 homestead exemption the day you or your spouse turn 65.  Other requirements are you must own the house and it must be your primary residence.

Most issues related to Texas property taxes are based on a January 1 date.  The over-65 homestead becomes effective when you or your spouse turn 65.  It is prorated for the first year based on the portion of the year you are 65.

Benefits of an over-65 homestead exemption include:

  • School property taxes are frozen forever. If you live to be 100, your school taxes would never rise (unless you remodel or add-on to the house).
  • Substantially higher homestead exemptions in many tax entities.
  • You can allow property taxes to accrue with $0 in annual payments. Upon the death of the second spouse, the balance plus interest is due.  However, there are no penalties.

If one spouse dies, the surviving spouse can retain the over-65 homestead exemption if they are 55 year of age or older.

Homestead exemptions can be tricky.  For complimentary assistance on homestead exemptions, call 713 290 9700.

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