The
following homestead exemptions are available to qualified property
taxpayers:
- General Homestead Exemption
-- Available to anyone who owns and lives in their home as of Jan. 1
of the tax year. This exemption reduces your equalized assessed
value by up to $6,000 (beginning in 2009 for taxes payable in 2010
and thereafter). This is determined by the amount of increase in
your assessed value since 1977, the base year for this exemption.
Any increase in assessed value for any reason since 1977, up to
$6,000, will be deducted for the Homestead Exemption. The
homeowner/taxpayer must apply for this exemption for the first time;
it will be automatically renewed each year thereafter. If you move,
another application will be required for your new address.
- Homestead (over 65) Exemption
-- For taxpayers who own and live in their home and are aged 65
or older. You may apply for this exemption any time during the year
in which you turn 65, provided you own and occupy your home. This
exemption reduces your equalized assessed value by $4,000. The
homeowner/taxpayer must apply for this exemption for the first time;
proof of age is required (drivers license, Medicare card or birth
certificate). Every year thereafter, the Assessment Office will
automatically renew the application. Again, if you move, you must
reapply for your new address.
- Home Improvement Exemption
-- For new construction or additions to your home. This is for
structural changes only, such as room additions, garages, decks,
porches, or other square footage additions. Maintenance such as
siding, replacement windows or a new roof does not qualify. The
maximum amount allowable is $75,000, or $25,000 assessed value. This
exemption continues for four years after completion of the new
improvement.
- Senior Citizen's Assessment
Freeze -- The Senior Citizen's Assessment Freeze (PTAX 340)
Exemption is available to senior citizens, age 65 or older, whose
total household income is $55,000 or less for the previous
year. If you meet the above requirements and own and reside in your
home on Jan. 1 of the current tax year and Jan. 1 of the preceding
year, you are eligible for this exemption. You must complete form
PTAX 340, available in the Assessment Office, each year. This
exemption "freezes" the assessed value of your property at the
previous year's level, which becomes your "base year." Thereafter,
your taxable value will be your base year amount. The amount of your
freeze exemption is determined by subtracting your freeze base
amount from your current equalized assessed value. This exemption
does not freeze your taxes. Your tax rate (the amount per $100
of assessed value that you pay in taxes) will still fluctuate each
year. (This exemption is not the Senior Citizen's Tax
Deferral Program).
- Disabled Person's
Homestead Exemption -- This
exemption is available to taxpayers who own and live in their home
as of Jan. 1 of the tax year. It provides a $2,000 reduction in the
property's equalized assessed value for qualifying disabled persons.
To receive this exemption, taxpayers must file an application
annually and submit certain documentation proving disability.
- Disabled Veteran's
Homestead Exemption -- This
exemption is available to taxpayers who own and live in their home
as of Jan. 1 of the tax year. It provides a $5,000 reduction in a
property's equalized assessed value for qualifying disabled veterans
having a minimum of 75 percent disability -- OR -- a $2,500
reduction for qualifying disabled veterans having a disability of 50
percent to 74 percent. To receive this exemption, taxpayers must
file an application annually and submit a certified copy of their DD
Form 214 and a Disability Certification Letter from the U.S.
Department of Veterans' Affairs.
- Returning Veteran's
Homestead Exemption -- This
exemption is available to taxpayers who own and live in their home
as of Jan. 1 of the tax year. It provides a one-time $5,000
reduction in the property's equalized assessed value (EAV) for
qualifying veterans upon their return from active duty in a conflict
involving the armed forces of the United States. To receive this
exemption, the veteran must file an application and submit a
certified copy of their DD Form 214 during the tax year of his or
her return.
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