The Texas Constitution provides for homestead exemptions that let a homeowner pay lower taxes on a property. The exemptions that may apply include: school taxes (up to $15,000), county taxes for flood control or infrastructure (up to $3,000), general homestead exemption (up to $15,000), and disability exemption (up to $10,000).
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.