Guide
The biggest homestead exemptions by state
Published
Texas has the largest flat homestead exemption in this guide: $140,000 off assessed value. 16 states here take a fixed dollar amount off a home's value, and the size runs from $1,000 to $140,000. A bigger number does not always mean a bigger tax cut, because what it reduces differs from state to state.
Every flat homestead exemption, largest first
| State | Amount | What it reduces |
|---|---|---|
| Texas | $140,000 off assessed value | School district taxes |
| Idaho | $125,000 off market value | Market value of the home and up to one acre of land |
| Hawaii | $120,000 off assessed value | Taxable value of an owner-occupied principal residence in the City and County of Honolulu |
| District of Columbia | $67,500 off assessed value | Assessed value of the owner-occupied home (base amount; indexed yearly) |
| Florida | $50,000 off assessed value | First $25,000 applies to all property taxes including school taxes; the additional $25,000 applies to assessed value over $50,000 and only to non-school taxes |
| Indiana | $40,000 off assessed value | Assessed value of the principal residence, up to one acre of land and residential yard structures |
| Minnesota | $38,000 off market value | Taxable market value of a residential homestead (class 1a/1b, and the house, garage and one acre of an agricultural homestead) |
| New York | $30,000 off market value | School district taxes (partly city taxes in New York City, Buffalo, Rochester, Yonkers and Syracuse) |
| Maine | $25,000 off market value | Just value of the permanent residence (all property taxes except special benefit assessments) |
| Louisiana | $7,500 off assessed value | State, parish and special ad valorem taxes; not municipal taxes except in Orleans Parish and city taxes for schools |
| California | $7,000 off assessed value | Taxable value of the home (all property taxes on it) |
| Illinois | $6,000 off assessed value | Equalized assessed value (EAV) of the owner-occupied principal residence |
| Alabama | $4,000 off assessed value | State portion of property taxes ($4,000); county portion gets $2,000 |
| Georgia | $2,000 off assessed value | County and school taxes, except school taxes levied by cities and taxes to pay bonded debt |
| New Mexico | $2,000 off assessed value | Residential property owned by a New Mexico head of family |
| Oklahoma | $1,000 off assessed value | all ad valorem taxes |
Why the biggest number may not save the most
Some states take the amount off assessed value, which is often a fraction of market value. Others take it off market value, and some apply it only to school taxes.
In Texas, the $140,000 applies to school district taxes. In Florida, the first $25,000 applies to all levies and the second $25,000 skips school taxes.
Your savings equal the exemption times the tax rate of each unit it applies to. County pages show that math where an official rate is published.
States that use a percentage instead
3 states cut a share of the home's value instead of a fixed amount: Iowa (10%), Utah (45%), Wyoming (25%). A percentage grows with the home's value, so it can beat a flat amount on pricier homes.
State and county guides in this article
- TXTexas$140,000 off assessed value
- IDIdaho$125,000 off market value
- HIHawaii$120,000 off assessed value
- DCDistrict of Columbia$67,500 off assessed value
- FLFlorida$50,000 off assessed value
- INIndiana$40,000 off assessed value
- MNMinnesota$38,000 off market value
- NYNew York$30,000 off market value
- MEMaine$25,000 off market value
- LALouisiana$7,500 off assessed value
- CACalifornia$7,000 off assessed value
- ILIllinois$6,000 off assessed value
- ALAlabama$4,000 off assessed value
- GAGeorgia$2,000 off assessed value
- NMNew Mexico$2,000 off assessed value
- OKOklahoma$1,000 off assessed value
Figures come from the official sources linked on each state and county page. Rules change, so confirm with the official source before you file.