Texas is known for strong homestead protections—and that matters a lot when you’re thinking about estate planning or probate. Here are a few key things to keep in mind:
1. The Homestead Exemption Can Reduce Property Taxes
Homeowners may qualify for a homestead exemption that reduces the taxable value of their primary residence, potentially lowering annual property tax bills. The Homestead exemption can also limit the amount that your property taxes can go up in a year.
2. Homestead Property May Be Protected from Creditors
Texas law offers broad protection against many unsecured creditors, meaning your primary residence may not be at risk in certain debt collection scenarios.
3. Homestead Status Can Affect Probate
In some situations, surviving spouses or minor children may have the right to remain in the home even if it’s not specifically left to them in a will.
4. There Are Urban and Rural Homestead Limits
Homestead protection extends to 10 acres in a city or up to 200 acres (for families) in rural areas. Those living outside city limits might benefit from this rural classification.
5. You Have to Claim It Properly
The exemption isn’t automatic. Homeowners need to apply through the Hood County Appraisal District and update their exemption status if ownership changes.
Understanding the role of your homestead in an estate plan or probate process can help protect your family’s future. It’s best to speak to a qualified professional to answer your questions, and to make sure that your estate plan is complete.