Homestead Exemption & 10% Cap: Preserve Owner Playbook

Buying in The Preserve and want to keep your property taxes in check? You’re not alone. Between the homestead exemption and Texas’s 10% cap on value increases, you have real tools to manage your bill. In this guide, you’ll learn what each benefit does, when it kicks in for Williamson County, and the exact steps to file with WCAD so you don’t leave money on the table. Let’s dive in.

Quick wins for Preserve owners

• Update your Texas driver’s license to your Preserve address and note your move-in date.
• File your residence homestead exemption with WCAD as soon as you occupy the home, ideally before April 30.
• Watch for your Notice of Appraised Value and verify the exemption and 10% cap entries.
• If eligible, apply for over‑65, disabled, or disabled‑veteran relief.

Homestead exemption basics

A residence homestead exemption reduces the value used to calculate certain property taxes on your primary home. The Texas Comptroller explains how the exemption works and which taxing units may offer additional local relief. See the Texas Comptroller’s homestead exemption page for a clear overview and required form details. Texas Comptroller’s homestead exemption page

In 2023, Texas voters approved a major increase to the required school‑district homestead exemption, which lowers your school‑taxable value. The Comptroller’s fiscal notes summarize this statewide change and how it impacts school taxes. Comptroller summary of 2023 changes

10% cap basics

Texas Tax Code Section 23.23 limits how much your appraised value for a qualified residence homestead can increase each year. Your appraised value cannot exceed the lesser of current market value or last year’s appraised value plus 10% of that amount, plus the market value of any new improvements. Texas Tax Code Section 23.23

Timing matters. The cap takes effect on January 1 of the tax year after the first year you qualify for the homestead exemption. For example, if you moved in and qualified in 2023, your cap generally begins January 1, 2024. Williamson County’s resources reinforce this timing for local homeowners. Williamson County exemptions and tax deferral

File with WCAD: step‑by‑step

1) Confirm you qualify

You must own and occupy the home as your principal residence. Be ready to provide your occupancy date when you file. Texas Comptroller’s homestead exemption page

2) Submit your application online

Use WCAD’s e‑services to find your property and file the Residence Homestead Application (Form 50‑114). You’ll receive email confirmation, and processing can take up to 90 days. Paper filing is also allowed. WCAD homestead guide and online application

3) Gather required documents

Most applications require a Texas driver’s license or ID that matches your Preserve address. WCAD’s guide explains how to upload documents and what to do if your ID is recently updated or you have special circumstances. WCAD homestead guide and online application

4) Watch deadlines and late filing

The regular filing deadline is April 30. If you miss it, a late residence homestead application may still be possible within state limits, including retroactive relief in some cases. Check local guidance and the Comptroller’s late filing overview. WCAD property tax benefits | Comptroller late filing guidance

5) Track status and keep confirmations

Hold on to your email confirmation and periodically check your WCAD account for updates. If refunds are due after a late approval, the tax assessor/collector handles them once WCAD finalizes your exemption. WCAD homestead guide and online application

Read your NOAV and protest if needed

Your Notice of Appraised Value shows whether your homestead exemption and cap are applied and lists your taxing units. Review it as soon as it arrives. If the value or exemptions look off, you can protest with the Appraisal Review Board by the deadline shown on your notice. WCAD outlines key dates and how to assemble supporting evidence. NOAV guide | WCAD first‑time property owners

Examples: how savings look

These simple illustrations show how the exemption and cap work. Actual rates and amounts vary by parcel.

• Homestead exemption on school taxes: If your home’s appraised value is $400,000 and the required school homestead exemption is $100,000, your school‑taxable value drops to $300,000. Your actual savings depend on your school tax rate. Comptroller summary of 2023 changes

• 10% cap moderating increases: If last year’s appraised value was $300,000 and this year’s market value is $420,000, the cap limits the appraised value to $330,000 for the year, plus any new improvements. Texas Tax Code Section 23.23

To see your exact numbers, use your NOAV for parcel‑specific values and taxing entities. NOAV guide

Common scenarios in The Preserve

• New owner this year: Apply for your homestead exemption as soon as you move in. The 10% cap typically begins on January 1 of the tax year after your first qualifying year. Williamson County exemptions and tax deferral
• ID not updated: WCAD usually requires a Texas ID with your Preserve address. Review WCAD’s guidance for acceptable documentation and next steps. WCAD homestead guide and online application
• Which school district: Parts of west Georgetown fall in Georgetown ISD and parts in Leander ISD. Confirm your parcel’s taxing units on your NOAV or through WCAD. WCAD property tax benefits
• Over‑65, disabled, or disabled‑veteran: You may qualify for additional exemptions and a school tax ceiling, which works differently than the 10% cap. Williamson County exemptions and tax deferral

Make tax planning part of your move

Even with the exemption and cap, your tax bill can change if local taxing units adjust rates or voters approve bonds. The best way to stay ahead is to file on time, read your NOAV carefully, and ask questions early.

If you want a local, step‑by‑step plan tailored to your Preserve address, reach out to the Merissa Anderson Group. Our team will help you navigate the process and connect you with the right resources so you can move forward with confidence.

FAQs

What is the Texas homestead exemption for Preserve owners?

• It reduces the taxable value of your primary residence, especially for school taxes, and may include local optional exemptions. File with WCAD using the state’s Form 50‑114.

When does the 10% cap start after I buy?

• The cap typically begins January 1 of the tax year after your first year qualifying for the homestead exemption on that home.

What if I miss the April 30 deadline?

• You can often file late within state limits and may receive retroactive relief in some cases. Act quickly and check WCAD and the Comptroller’s guidance.

How do I confirm my school district in The Preserve?

• Check your WCAD property page or your Notice of Appraised Value, which lists all taxing entities for your parcel.

Do I need a Texas ID with my Preserve address to file?

• WCAD generally requires a Texas driver’s license or ID showing the property address. If recently moved, review WCAD’s instructions for acceptable documentation.