In 2019, a new Texas law (Senate Bill 1943) opened up important property tax savings for “heir property owners” — homeowners who have inherited their primary residence. First, the new law makes it easier for heir property owners to qualify for a homestead exemption, by creating clearer and more accessible application requirements. Second, once an heir property owner has a homestead exemption in place, they can now qualify for a 100% homestead exemption when the home has co-owners, rather than a partial exemption. Obtaining the full benefits of the homestead exemption is important because it can lower your property tax bill by hundreds or even thousands of dollars a year. For those who are age 65 or older or have a disability, the homestead exemption provides additional benefits, such as the right to pay your taxes in installments without penalties. Click here for important information on how to qualify for these important property tax savings.