Filing for Homestead of 1st property - Houston, TX

[Alexander Timberlake]

Hello,

I recently bought my primary residence located in Houston, TX (Harris county) in February, 2016. I would like to claim this property as my homestead. I have learned that there are two main advantages:

1. I can write off a large percentage of my home value from property taxes if I file for the homestead exemption.

2. If I sell the home, I do not have to pay capital gains on the first $250k.

I have a few questions:

1. Are claiming a homestead and filing for the homestead exemption different?

2. What is/are the correct form(s) to file for the homestead or claim the homestead exemption? (I see a document form 11.13 for Harris county that looks right, but I am not sure).

3. Will I be able to lower my tax basis for the 2016 tax year? The soonest I can file is Jan 1, 2017. I'm hoping that submitting a form on this date will be to lower my tax basis for the 2016 tax year (not the 2017 tax year)

4. Where do I submit these forms?

5. How can I check that these forms are received? How can I verify the property value basis that was used to calculate my property taxes?

Thank you!

[Nikolas Ferreira]

not too familiar with this but here is a link from the houston CAD

has deadlines and other good info.

http://www.hcad.org/Resources/Exemptions/Homeowner...