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Property Tax and Appraisals The Texas Tax Code, Section 33.06, allows taxpayers 65 years of age or older to defer their property taxes until their estates are settled after death.
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Senior Homestead Exemption Seniors age 65 or older can qualify for an additional exemption of $10,000 in addition to the homestead exemption that all homeowners in Texas can receive. You qualify for this exemption in the year you turn 65.
Senate Bill 2 (Bettencourt/Meyer) provides property tax relief through tax rate compression, an increase in the homestead exemption, and a pilot project limiting the growth in appraised values. For tax year 2023, this will save the average Texas homestead owner over $1,200.
Early voting is under way for the slew of proposed amendments. Proposition 4 would allow the state to spend $18 billion on property tax cuts for homeowners and businesses, cut school districts' tax rates and enact other tax changes. Whether Texas can afford those tax cuts in the long term remains unanswered.