Frankly Speaking Blog

File for Homestead Exemption before March 1st

February 7th, 2014 8:48 PM by Frank Ferrell


What is Homestead Exemption?

Homestead Exemption is a tax reduction allowable to homeowners who make their property their permanent residence.

If approved, this exemption could reduce the taxable value of your residence by up to $50,000. The first $25,000 of this exemption applies to all taxing authorities. The second $25,000 of exemption excludes School Board taxes and applies to properties with assessed values between $50,000 and $75,000.

As a result, the homeowner would enjoy a substantial savings on the taxes levied on their property by the various taxing authorities.

For more details on qualification and application deadlines, visit the Homestead Exemption page on our website.
 
Posted in:General
Posted by Frank Ferrell on February 7th, 2014 8:48 PM

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