The homestead tax exemption applies to property taxes. In some states, every homeowner gets the tax exemption, while in other states, qualification relies upon pay level, property estimation, age or in case you're disabled or a veteran. Texas homestead exemption helps you save on taxes on your home. It lowers your taxes and eliminates part of the value of your property from taxation. Kinds of Homestead Exemptions School taxes — You will get at least a $25,000 homestead exemption on the estimation of your home for school district taxes, if you are qualified for the homestead exemption. County taxes — Currently, for all the home owners, Harris County provides a 20% optional homestead exemption. This means that if your home is valued at $100,000, the exception will decrease its taxable value for Harris County taxes by $20,000 to $80,000. Optional exemptions — Any taxing unit, that includes a school district, city or county may offer an exemption for up to 20% ...