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Exemptions for Homestead and basic example from county

October 10th, 2007 7:51 AM

Exemptions

Deadline Information

Application for all Exemptions must be filed by March 1st of the year in which you wish to claim the exemption. This is an absolute deadline. In addition, eligible applicants must be legally in possession of (i.e. a Recorded deed) and living on said property as their primary residence as of January 1st of that same year. Initial applications should be made in person at any of the Property Appraiser’s Office Locations. Failure to make application by March 1st of the tax year shall constitute a waiver of the exemption privilege for that year. After the first year’s application has been filed, each property will receive an automatic renewal of exemptions as long as the eligibility requirements are still being met.

Available Exemptions

$25,000 Homestead Exemption
$500 Widow’s or Widower’s Exemption
$500 Disability Exemption
$500 Exemption for Blind Persons
$5000 Service-connected Disability Exemption
Total Exemption for the Service-Connected, Totally and Permanently Disabled
Total Exemption for the Totally and Permanently Disabled
Combat Related Veteran's Exemption
Total Exemption for Non-Profit Organizations
Senior Citizen Age 65 And Over Exemption
Granny Flats Classification

Example of How Exemptions 1- 4 Work

Mr. Smith owns a property assessed at $100,000 and is eligible for a Homestead Exemption.

$100,000 Assessed Value

(-) $25,000 Exemption Value

$75,000 Taxable Value

Mr. Smith will only be taxed on $75,000 of his $100,000 home. This equates to approximately a $500 savings on his yearly tax bill. The savings you receive is based on the final assessed value and the final millage (or taxing) rates for your particular property each tax year.

See Amendment 10 to learn about further benefits associated with Homestead Exemption.

Posted by Cindy Balla on October 10th, 2007 7:51 AMPost a Comment (0)