Homestead and Ag Exemption

[175gr7.62]

Suppose you have 40ac of land that is 1D1 Ag and you want to build a house in the middle of it. Can you homestead the entire 40ac and keep your Ag exemption from a tax standpoint are are you better of surveying off 1/3 ac to build your house on and keeping the rest of the property separate?

[bowhuntertex]

from my experience at least with Hays and Blanco county they will make you survey out 1 acre for your house and leave the rest on AG. I was also able to homestead the 1 acre. I have done this several times and they would never let me section out less than an acre. Your county tax office will give the best and most correct information.

[RutnBuk]

You can only homestead your home. My county takes out an acre for the house and thats it. I didnt have to survey it out either. Homestead on the house and 1 acre and the rest of the 44 acres is ag ex

[Briar Friar]

Our county taxing body has policy standard 1 acre for homesite. Homesteading doesnt change taxing rate…unless your old enough or 100 percent diabled vet.

[friscopaint]

Our county taxing body has policy standard 1 acre for homesite. Homesteading doesnt change taxing rate.

Same here 1 house 1 acre out of ag

[bowhunterhelm]

1 acre in Travis County

[BrianL]

In Lamar county they just assign 1 ac to the home, you don't have to survey it out.

[1riot1ranger]

same for me. I put in a small barndo and appraiser deducted an acre.

[44mAG]

Good question. We will be going through this on my 20 acres soon. I have a few questions on this topic as well.

Is it true that you actually don’t have to survey out the 1 acre? Even when getting a mortgage on the house? What would happen if someone foreclosed on the house? How would the bank know what 1 acre they claim? This is assuming you own the land outright.

For people who role their land loan into the mortgage, if they were to foreclose, would the bank get the entire property? Even if the amount rolled into the house mortgage was way less than the value of the entire property?

Also, I assume you have to survey out the driveway so the bank has access to the house they are lending on?

Just curious how the lender protects themselves in a situation like this.

[Briar Friar]

Good question. We will be going through this on my 20 acres soon. I have a few questions on this topic as well.

Is it true that you actually don’t have to survey out the 1 acre? Even when getting a mortgage on the house? What would happen if someone foreclosed on the house? How would the bank know what 1 acre they claim? This is assuming you own the land outright.

For people who role their land loan into the mortgage, if they were to foreclose, would the bank get the entire property? Even if the amount rolled into the house mortgage was way less than the value of the entire property?

Also, I assume you have to survey out the driveway so the bank has access to the house they are lending on?

Just curious how the lender protects themselves in a situation like this.

Lender will require a survey

[44mAG]

Lender will require a survey

That is what I was thinking. But I am pretty sure I have heard multiple people say otherwise. If you do have to survey it out, that will stink. Seems like a pretty big decision on how and where to put the edges of the one acre. Especially if you are planning on putting a fence around the house at a later date. Seems like that survey will limit you on future projects around the house in the future.

[Stan R]

Lender will require a survey. I refinanced on the last 18 months. I want to break off some part of the land with house free and clear. I found out any subdivision of your land has to be approved by the county commissions and the part you break out has to have access to the road. The title company stated it was a recent law.