Home is in Brazos country, so I posted this question in the Aggieland forum, too. But I figured someone here might also be able to help with this.

So I forgot to file my HS last year and just now submitted the form for the 2022 tax year. The tax code states that they use the preceding tax year to cap the 10% increase. So if I just turned it in, does that mean they will not raise my taxes based on the 2021 value? Any help is appreciated. Thanks.

It may depend on when your property is scheduled to be re-assessed. In Tx, CAD re-evaluates value every 3 years at a minimum or if a change in ownership or additional structures or added. If you purchased in 2021, the homestead exemption you file today will be applied to the most recent CAD valuation for your 2022 taxes. You can find the value by doing a property search on your county's CAD website.

If you were eligible for a Homestead Exemption for the 2021 tax year, it is not too late to file. The Tax Code requires the CAD to take Homestead Exemption applications up to 2 years late. You will need to file a new application and put "2021" in the Tax Year blank. If and when the exemption is granted for 2021, you should eventually receive a partial refund, plus the 10% cap should apply for the 2022 tax year.

I thought homestead had to be in place for 2 years before the 10% cap goes into effect...

Per the Tax Code (Sec 23.23), the 10% limitation "takes effect as to a residence homestead on January 1 of the tax year following the first tax year the owner qualifies the property for an exemption". I am not an attorney, but it sounds to me like the OP would get the limitation for 2022, assuming he qualified for the 2021 tax year. And he needs to specifically apply for the 2021 tax year.

not unless you make it your primary