One of the most common tax benefits of home ownership (outside of mortgage interest) is the Homestead Exemption for your primary residence. Surprisingly, it is often ignored and/or misunderstood by homeowners. Simply put, the Homestead Exemption reduces the taxable value of your home, resulting in a lower property tax bill.
Reality is that nobody likes taxes. Let's face it - if you moved from out of town into our Lone Star State, chances are that you had sticker-shock when you saw the property tax rates. Fortunately, there are a few things you can do to keep your property taxes in check - and keep some of this money in your pocket.