I would recommend everyone to check the property tax bill when it comes every year and make sure you are getting all the exemptions you are eligible for. Below are the different kinds of exemptions on the property tax bill.
Homestead Exemption AKA Homeowners Exemption
If you own and occupy your home as your principal place of residence, you may be eligible to claim an exemption of Certain amount (amount can be varied to county) from the assessed value. If you didn’t see any amount on the homeowner’s exemption column on the property tax bill, contact the county and apply for the exemption.
You don’t need to apply every year and county assessor's office, normally consider the property as a personal residence until you change the residency or ownership. If you change either the ownership or residency, you should let the county and remove the homeowner’s exemption. You are not allowed to claim the homeowner’s exemption more than one property at a time.
In general, Real Estate Attorney fill the application for the homeowner’s exemption at the time of closing and it’s a great idea to check with an attorney at the time closing about this exemption to avoid any delay in getting the exemption
Senior Exemptions
If you are above 65, you may elect to get an additional exemption (Age can be different for each state and check with county for the required age in the state you live)
Senior Freeze Exemption
In addition to the Senior Exemptions, you may eligible for Senior Freeze exemption too if your income is less than $65K (Income limit can be varied by county)
Disabled Veterans Exemption
Disabled veterans may elect to get an exemption based on the % of the disability and if you are coming under this category, please contact the county and make sure you are getting this exemption
Homestead Exemption for Persons with Disabilities
The homeowner with a disability may eligible for this exemption and need to apply with proof of disability to the Chief County Assessment Office and may need to renew every year.
Home Improvement Exemption
You may able to get the home improvement exemption for a total of 4 years from the date of completion of the home remodel. Remodel such as basement finishing, adding an additional room, etc. can be qualified for the home improvement exemption and the maximum deduction is limited to $25,000 of assessed value
Homestead Exemption AKA Homeowners Exemption
If you own and occupy your home as your principal place of residence, you may be eligible to claim an exemption of Certain amount (amount can be varied to county) from the assessed value. If you didn’t see any amount on the homeowner’s exemption column on the property tax bill, contact the county and apply for the exemption.
You don’t need to apply every year and county assessor's office, normally consider the property as a personal residence until you change the residency or ownership. If you change either the ownership or residency, you should let the county and remove the homeowner’s exemption. You are not allowed to claim the homeowner’s exemption more than one property at a time.
In general, Real Estate Attorney fill the application for the homeowner’s exemption at the time of closing and it’s a great idea to check with an attorney at the time closing about this exemption to avoid any delay in getting the exemption
Senior Exemptions
If you are above 65, you may elect to get an additional exemption (Age can be different for each state and check with county for the required age in the state you live)
Senior Freeze Exemption
In addition to the Senior Exemptions, you may eligible for Senior Freeze exemption too if your income is less than $65K (Income limit can be varied by county)
Disabled Veterans Exemption
Disabled veterans may elect to get an exemption based on the % of the disability and if you are coming under this category, please contact the county and make sure you are getting this exemption
Homestead Exemption for Persons with Disabilities
The homeowner with a disability may eligible for this exemption and need to apply with proof of disability to the Chief County Assessment Office and may need to renew every year.
Home Improvement Exemption
You may able to get the home improvement exemption for a total of 4 years from the date of completion of the home remodel. Remodel such as basement finishing, adding an additional room, etc. can be qualified for the home improvement exemption and the maximum deduction is limited to $25,000 of assessed value
