Property owners in Cy-Fair pay property taxes to a variety of entities depending on where their homes or businesses are located. Property taxes are calculated using three main numbers: appraised home value, tax rate and homestead exemptions.

Homestead exemptions are offered by taxing entities as a way to lower the amount of a home’s value, either by a percentage or by a dollar amount, before applying the tax rate.

Any taxing unit—including a school district, city, county or special district—may offer an exemption for up to 20 percent of a home’s value. Additional exemptions are typically available for homeowners age 65 and older, and homeowners who are disabled.

For instance, Cy-Fair ISD allows all homeowners to take advantage of the full 20 percent exemption, while other Houston-area school districts might offer 10 percent, 5 percent or the minimum of $5,000. A resident with a $200,000 home in Cy-Fair this year would save $936 with the exemption. Homeowners should be sure they are not missing out.