what is homestead exemption for? i file this form with my county every year?

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what is homestead exemption for? i file this form with my county every year?

but i dont understand the benefits of homestead exemption.
Please help!

2007-03-05 02:01:00 · 2 answers · asked by yuka m 1 in Business & Finance ➔ Personal Finance

2 answers

If you file a homestead exemption, you will be able to save money on your property tax because you will be taxed on a lesser amount of the assessed value of your home. In my county you only have to file it once and it stays in place for all years you own your home.

2007-03-05 02:27:51 · answer #1 · answered by Texas Girl 3 · 0⤊ 0⤋

Another advantage, in my State if you file homestead exemption and then file for bankruptcy in the future your home is protected.

2007-03-05 03:31:51 · answer #2 · answered by ? 7 · 0⤊ 0⤋