To file a homestead, the owner must use the property as his or her principal residence of January 1st of the tax year. Once filed, a homeowner will not have to file again. The homestead will remain on the property until the owner sells the home and moves the homestead exemption(s) to another principal residence.
If you've purchased this year, you will file your homestead pn or after January 1st, 2010.
H & Co. Real Estate
First Imperial Mortgage
That's a very good question. A homestead exemption is an exemption granted by the County Appraisal District on a person's primary residence. It exempts you from 20% of your taxes. Say you taxes are $1000/year. When you file for your homestead exemption, you would only pay $800 for your taxes. You can only claim homestead on 1 property in the US at a time. You must live in that property by January 1 of the year you are claiming the homestead. Hope this helps.
Amber Carrillo, Broker/Owner