Act By June 1 to Save Property Taxes
Many folks who are over age 65 or who are disabled may not know that they may be entitled to significant reductions in property taxes assessed against their homes.
If someone is 65 years of age or older or has a disability, and has income of less than $28,600, the property tax assessment on her residence can be reduced by the greater of $25,000 or 50% of the appraised value of the residence.
The assessed value is the value that is used for determining how much tax will be due.
To qualify as a “residence” the home must be the taxpayer’s primary dwelling and the taxpayer must pay tax on it. By the way, mobile homes do qualify. For vacation homes and other property . . . sorry . . . it won’t work.
YOU MUST APPLY BY JUNE 1 through the county tax assessor’s office if you have never done so before. If you miss June 1 . . . too bad. Here is the form to use. Once it is complete, mail it to (or drop it off at) your county to assessor’s office and “you’re good to go.”
If you already have a property tax homestead exclusion from last year, there is NO NEED to apply again, as long as you get your property listing sheet that was sent to you returned to the tax assessor by the due date (Note from Bob: Don’t worry, Mom, it was returned and you’re OK).