Read about new property tax law that took effect September 2, 2011.

What is a homestead?

A homestead can be a separate structure, condominium or a manufactured home located on owned or leased land, as long as the individual living in the home owns it. A homestead can include up to 20 acres, if the land is owned by the homeowner and used for a purpose related to the residential use of the homestead.

What is the Homestead Exemption?

Homestead laws were developed to grant a surviving spouse, minor children, and/or unmarried children of a deceased homeowner the right of occupancy, to afford a reduction on property tax, and also to protect a home from creditors.

Homestead exemptions reduce taxable value by removing part of your home's value from taxation. If you want to receive a homestead exemption for the taxes on your home, the home must first qualify as a residence homestead on January 1 of the year in which you are applying. There are two requirements:

1.    You must own your home on January 1. (If you are over 65,and/or disabled the January 1 ownership and residency are not required.)

2.    You must use the home as your principal residence on January

Click here to see other exemptions you may qualify for.

 


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