Are your property tax exemptions filed?

Most people are entitled to at least 2 property tax exemptions. Do you know what they are? Do you know for sure if yours are filed? Did you realize that when you have both of these 2 exemptions filed, it significantly reduces your property tax bill ?

Homestead Exemption– If the property is your primary residence (your homestead) you are entitiled to a deduction. Typically, this is filed when you purchase your home, either by you or by the title company. It is a LARGE deduction, one that reduces the gross assessed value of your house by usually $45,000.

Mortgage Exemption– If you have a mortgage on the property, you are also entitled to a smaller Mortgage Exemption. Sometimes, if you refinance your loan, this exemption will fall off, and often people forget to go re-file it.

There are many other exemptions that you might be eligible for:

  • Solar Energy Heating or Cooling
  • Wind Power
  • Hydroelectric Power
  • Geothermal Device
  • Over Age 65
  • Blind
  • Disabled
  • Disabled Veteran
  • Veteran with Service Connected
  • Veteran of World War I
  • Surviving Spouse of Veteran of World War I

So, how to make sure you have your deductions? I can check them for you, or you can check online to see if your county has an online lookup site. If you find that you are missing a deduction that you think you are eligible for, call or visit your County’s Auditor. Sometimes, a copy of your closing settlement is needed as proof that you own the house, or other documentation is needed to show evidence that you are entitled to the deduction you are requesting.

There is a time limit on filing, and if you miss the deadline, your deductions might not take effect until the next calendar year, so get moving!

Marion County Property Tax Deduction info

Search the Hendricks County Property Tax Database

Hendricks County Government Site

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