Head Over Heels for Homestead Exemptions
It's that time of year when the forms start piling up and you keep trying to put off the inevitable - taxes. We know it's not always the most exciting, but it's time to gather your documents and get it done. But if you bought a home in 2021, don't forget about the homestead exemption! Not sure or can't remember how to file for the exemption? We've got you covered with these quick facts about the homestead tax exemption! What is it? A homestead exemption is a one-time, tax exemption on your property taxes that can be filed the January after you have purchased a new home. It lasts until the ownership of your home changes. How much is exempt? The exemption is a reduction of the amount of taxes charged, and so will vary for each county and property. What do I need? To file for a homestead exemption, you must be a legal resident of the county and must own and occupy the home as of January 1 in the year you are seeking the exemption. There is no income or age