Homestead Exemption

Homestead exemptions are a type of property tax relief typically allowed for a homeowner’s primary residence. These exemptions reduce the taxable value of the home for determining property tax bills, meaning you pay less in taxes than you would if the actual value were used. If you do not file for homestead exemption, you may pay more in property taxes, which could result in a higher monthly mortgage payment.

• Homestead status is offered to eligible taxpayers by their state and is not granted automatically.
• States have varying eligibility requirements.
• Each taxpayer must qualify for the exemption.
• Applications must be filed by the filing deadline of the year in which the exemption is sought.

Filing for homestead exemption

• Homestead exemption laws vary from state to state; check with your local county tax officials to learn more about your state’s requirements.
• Applications will most likely have to be delivered in person, though some areas may have online or mail-in options.
• Applications must be filed with your tax commissioner or tax assessor’s office.

Contact us

Once you have filed for homestead exemption, please notify our escrow department of your new tax information via email at mtgtaxprocessing@trustmark.com.