What Is A Homeowner’s Tax Exemption?

Once you purchase your new home, and if you intend to occupy it as your principal residence, you may be eligible for a homeowner's property tax exemption.  This means that your property taxes would be calculated on the taxable value of your home less the amount of the exemption, which is currently $7,000.00. This saves most homeowners approximately $70.00 per year, but the actual tax savings varies depending on the tax rate for your area.  To see if you are already receiving the exemption, check your annual value notice or your property tax bill. The exemption appears as a reduction of $7,000.00 on both of these documents.

How do I apply for the exemption?

You may qualify for this property tax exemption if:

  • You own your property
  • It was your principal residence on January 1st
  • You do not already have a Homeowners’ Exemption
  • You submit a completed application to the county assessor’s office

A Homeowner’s Property Tax Exemption Claim application is usually mailed to new property owners within 90 days of recording the deed. The deadline for filing is February 15th. A partial exemption is available if the application is filed between February 16th and December 10th.

Once you have filed for the exemption and you continue to own and occupy the residence, you will automatically continue to receive the exemption. You may be required to re-apply if you change the way in which title to your property is held.

For additional information, contact the assessor’s office for the county in which your property is located.  Click here for an informational brochure, and a copy of the application.