Homestead Exemption - Houston, Texas
I am debating purchasing an investment property, or purchasing a new home and renting my current home out. I was told by someone that if I convert my primary residence into a rental then I would owe taxes for the years I lived in my home with the exemption. This does not sound accurate to me. When we called HCAD, they stated it was not accurate and would only apply if I wasn't living in that residence while I had the exemption. Are there any experts that can clarify this for me? I want to be 100% sure before I move forward.