Chapter four discusses property tax homesteads and saving money through homestead exemptions. Here are the key points:

• Property tax homestead exemption reduces property taxes for homeowners by sheltering a portion of their home's value from taxation.
• Homestead exemptions are applicable to primary residences and can provide protection from creditors in some cases.
• Qualifying for the homestead exemption involves factors like property being the primary residence, income, age, disability, and specific criteria.
• There are various types of homesteads including disability and veteran homesteads, each with specific eligibility and benefits.
• The financial impact of a homestead is significant in lowering the overall tax liability for homeowners.
• Homeowners must file an application with their local tax assessor's office and or central appraisal district (CAD) to receive the homestead exemption by providing proof of residency.
• The homestead exemption application process may vary by state and could include online, paper, or in-person options.
• Once granted, the homestead exemption typically does not require annual reapplication unless there are changes to the homeowner's status.

If you are a homeowner, it is recommended to review local homestead application forms and file for the exemption to potentially save money on property taxes.