What Are Property Tax Exemptions for Homeowners?


Quick Answer

Property tax exemptions vary from state to state and across tax districts. A homeowners exemption is a common tax exemption available to homeowners in the state of California, reports the Sacramento County Assessor’s Office. Texas offers homestead exemptions that cover school and county taxes, states the Harris County Appraisal District.

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Full Answer

Property tax exemptions cover special groups such as senior citizens and veterans. For example, senior citizens receive an exemption of 50 percent on the first $200,000 in assessed value of their primary residence, according to the Assessor of Boulder County, Colorado. Texas and Illinois offer homestead exemptions that offer a homeowner exemptions from school taxes, county taxes and optional exemptions that vary from county to county. For example, the Harris County Appraisal District offers an optional homestead exemption of 15 percent to all homeowners.

Cobb County, Georgia offers a $10,000 basic homestead exemption to qualifying homeowners who are residents of the state. This exemption covers all taxes payable under the school bond tax and general county tax categories as well as a $2,000 exemption on state taxes, according to the Cobb County Tax Commissioner. Other exemptions in the state include a full exemption from all state taxes for individuals over the age of 65 whose surrounding property does not exceed 10 acres and a $22,000 tax exemption for disabled residents whose annual income is less than $12,000.

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