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Video instructions and help with filling out and completing Fill Form 2220 Exempt

Instructions and Help about Fill Form 2220 Exempt

Hi guys, I'm gonna do a quick video today all about filing your homestead exemption. It's January right now, and this is the time when I remind all my buyers who purchased a home last year that they need to file their homestead exemption. So in case you're new to Texas or you're not really familiar, I'm going to show you what the form looks like right here. It's an application for residents homestead exemption and what that means. So, here in Texas, we have property taxes on homes that you own. And if a property is your primary residence that you live in full time, then you can claim that as your homestead. And properties that you claim as your homestead will have a reduction in the annual amount of property taxes that you pay. So, of course, it's really important to get it filed and you want to pay as low property taxes as you possibly can. And there's a timeline that you can file it. So you can only file it between January 1st and April 30th, and you have to own the property in the tax year. For example, my clients that purchased homes in 2017, they will not be able to file for their homestead exemption until they've owned it on January 1st. So that's why right now I'm reminding everybody, "Hey, it's January, you purchased last year, so now is the time when you fill it out." And you have until April 30th to get that done. And one other quick mention, there are some companies that send you mailers and say, "Oh, I'll fill out your homestead exemption for $49, just mail me some money." It is completely free to fill out this form. You should not pay anybody. And if you see anything in your...