Indiana homestead property standard 2025

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  1. Click ‘Get Form’ to open the Indiana Homestead Property Tax Standard Deduction form in the editor.
  2. Begin by filling out the Certification Statement. Indicate whether you own the property, are buying it under contract, or have a beneficial interest in a trust. Ensure you provide your name and date of signature.
  3. Next, complete the Claimant’s Information section. Enter your legal name, telephone number, last five digits of your Social Security number, email address, and driver’s license number if applicable.
  4. In the Contract Recorded section, if applicable, provide details about the fee simple owner’s name and where the contract is recorded.
  5. Fill out the Property Description section with information about the county, township, taxing district, parcel number, and legal description of your property.
  6. Indicate whether the property is real property or an annually assessed mobile home. If any part of it produces income, describe that use.
  7. Complete any additional sections regarding other properties owned elsewhere and vacated homesteads as necessary.
  8. Finally, review all entries for accuracy before signing at the bottom of the form. Ensure that all required fields are filled out completely.

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To qualify for the Homestead Exemption, you must meet the following criteria: Ownership: You must own the home or be buying it under contract. Primary Residence: The home must be your primary place of residence (where you live most of the year).
Often, if youre 65 or older, youll be able to reduce your property tax bill not only on a house but mobile and manufactured homes, houseboats, townhomes, condominiums and so on. You will have to apply: You typically need to apply for a senior freeze.
Eligibility. The applicant must be at least 65 years on or before December 31 of the calendar year immediately preceding the calendar year in which the property taxes are first due. You must have owned or been buying the home for at least one year before claiming the credit.
One of these exemptions, found in Indiana Code 6-1.1-10-16, provides that buildings owned, used, and occupied for educational, literary, scientific, religious, or charitable purposes can apply for, and be granted, a property tax exemption.
The contract must be recorded and provide that the applicant is to pay the property taxes. For the Over 65 Deduction, the deduction amount equals the lesser of one-half the assessed value of the property or $14,000.

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Reduce the property tax on your home The standard homestead deduction is either 60% of your propertys assessed value or a maximum of $48,000, whichever is less.
The following states offer partial exemption on property taxes for seniors and people over 65. Hawaii. In Hawaii, if youre 65 or older, you could knock $160,000 off your homes assessed value, reducing your property tax liability. Louisiana. Alaska. New York. Washington. Mississippi. Florida. South Dakota.
California. Homeowners Exemption. Qualifying homeowners can get up to a $7,000 reduction based on the assessed value of their home and primary residence.

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