A homeowner may also have a right to cancel a contract after three days in limited, extraordinary, situations. The homeowner's cancellation rights are created by both state and federal laws.
The Texas Tax Code requires every local school district to provide a general homestead exemption of $40,000. Other taxing units, like county and city governments, may optionally provide their own exemptions. These optional exemptions must be between a minimum of $5,000 and a maximum of 20% of the home's assessed value.