How much will I save with the homestead exemption?

How much you save with the homestead exemption depends on the exemption amounts and tax levels adopted by your city, county, and other local governments. A homestead valued at $200,000 with a 20% exemption ($40,000) means you pay property taxes as if your home were valued at $160,000. Once you obtain an over-65 or disabled exemption, your school taxes are frozen (meaning they do not increase) until your home is no longer your primary residence.

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1. Do I, as a homeowner, get a tax break from property taxes?
2. Do all homes qualify for residence homestead exemptions?
3. What residence homestead exemptions are available?
4. How do I get a general 20% residence homestead exemption?
5. What is the deadline for filing a residence homestead exemption?
6. May I continue to receive the residence homestead exemption on my home if I move away temporarily?
7. If I live in a home that has multiple owners, can I qualify for the residence homestead exemption on the home?
8. How much will I save with the homestead exemption?
9. If the owners are married, can they claim two homestead exemptions?
10. What happens to the homestead exemption if I rent my home?
11. If my home is damaged or destroyed in a disaster, is my homestead exemption affected?