Homestead for 21 units MF in Texas

[Account Closed]

Hi all, 

I have a 21 units which I am paying a lot of tax due to being in the middle of the city. Would it be possible to stay in one of the units and claim homestead on 21 units property? The property is currently held under LLC. I can change the legal structure to whatever it fits.

[Greg H.]

Originally posted by @Account Closed:

@Jim Cummings The property is currently valued at 1.5m so I can only get around 70k for homestead. 

But if I were to live in 4 plex, I would be able to claim all on my tax right? I may be wrong. 

 No. Only on the unit you occupied .  Again, the savings is only $600-700 per year. The homestead does limit the property taxes rising to 10% per year but only on the homesteaders unit. So less than 5% of your value (1/21) is effected