Homestead Exemptions

A property owner who acquires property after January 1st may receive the residence homestead exemption for the applicable portion of that tax year immediately on qualification of the exemption, if the previous owner did not receive the same exemption for the tax year. The property owner must occupy the property as the owner's primary residence and the residence homestead exemption cannot be claimed by the property owner on any other property.  The Clear Creek ISD Homestead Exemption has two parts: The CCISD portion of the exemption is valued at 5% or $5,000 (whichever is greater) and the state mandated portion of the exemption has a value of $40,000, regardless of the value. (5% + $40,000). 

For persons over the age of 65 and/or a disabled individual qualify for a separate exemption of $28,330 and it works in conjunction with the Homestead Exemption. The total amount paid in the tax year that both the Over 65 or Disabled Person Exemption and the Homestead Exemption are applied is the amount paid in future years. Meaning the amount you pay in the year applied will be the amount paid in future years even if the property value increases unless you make major improvements to the property (such as adding a swimming pool, extra bedroom, workshop, or tear down and rebuild) or no longer declare the property as your homestead.

Veterans may be exempt from paying taxes on their residential homestead if they:

• Served in the Armed Forces of the United States
• Been classified as disabled by the US Department of Veterans Affairs (VA) as a result of a service-connected disability;
• Received 100 percent disability compensation from the VA; and
• Received either a 100 percent disability rating or been classified unemployable by the VA
• The veteran must own a home that is approved as his or her residence homestead and occupied as the principal residence.