Homestead Exemption
File a homestead exemption to lower your Smith County tax bill
If your home is your primary residence, you can file a homestead exemption with Smith CAD to reduce the taxable value.
A homestead exemption lowers the value used to calculate your tax bill. You only get it on the home where you live full time. You apply once with Smith CAD, and it stays on the property as long as you live there.
The general filing deadline is April 30 of the year you want the exemption, but check the current deadline with Smith CAD directly since rules can change. There is no filing fee. The exemption also caps how much your appraised value can rise in a single year — no more than 10% over the prior year's capped value.
Source to confirm: Smith CAD — Exemptions FAQ