How the homestead exemption cuts your property tax in Bell County

If you own and live in your home as your primary residence, you qualify for a residence homestead exemption. State law requires every school district to subtract $140,000 from the taxable value of a qualified homestead when figuring school taxes. Residents age 65 or older get an extra $60,000 school exemption on top of that. Veterans with a 100 percent VA disability rating can apply for a total exemption on their residence homestead value.

In Bell County, you file your exemption application with the Tax Appraisal District of Bell County, called Bell CAD. There are offices in Belton, Killeen, and Temple. You apply between January 1 and April 30 of the tax year. Once approved, you do not need to reapply each year unless Bell CAD asks for an updated application.

A related benefit is the 10 percent annual cap on how much your taxable appraised value can increase once a homestead exemption is in place. Even if your market value jumps more than 10 percent in one year, Bell CAD cannot raise the taxable value used for your tax bill by more than 10 percent over the prior year. Check bellcad.org for current forms and deadlines.