Variations in Receipt of Benefit
No Variation in Receipt of Benefits
Eligible taxpayers receive an exemption of $2,000 from the assessed value of their primary residence. The exemption applies to property taxes for state, county, and school purposes. Through local option, local taxing jurisdictions may increase the amount of the exemption. Applicants must file the application for homestead exemption between 1 January and 1 April in order to qualify for a benefit that year. Once the initial application has been submitted, the applicant does not need to file another application until he or she experiences a change in eligibility status. The application must be filed with the county tax commissioner or the county board of tax assessors.
How is Benefit Disbursed
Exemption from assessed value
Eligible Property Type
Characteristics of Eligible Property
Only residential property is eligible for this program.
Description of Eligibility Criteria
All homeowners are eligible for the exemption, as long as they occupy the property as their primary residence.
Local Option in Adoption of Program
Local government is unable to exercise an option
Local Option Regarding Program Features
Local option regarding program features
State Funding for Local Tax Loss
Local government covers all of its tax loss
Description of State Funding for Tax Loss
State statutes are silent in regard to reimbursement of local tax loss.