Otc form 994 2025

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The document is an application form for property valuation limitation and additional homestead exemption in the State of Oklahoma. It outlines eligibility requirements, including age and income criteria for applicants, particularly those aged 65 or over. The form requires personal information, gross household income details, and must be submitted to the county assessor by March 15 each year. It also explains the process for approval and the definitions of key terms related to the application.

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Versions	Form popularity	Fillable & printable
2023	4.8 Satisfied (42 Votes)
2022	4.8 Satisfied (227 Votes)
2021	4.4 Satisfied (124 Votes)
2020	4.2 Satisfied (142 Votes)
2019	4.4 Satisfied (376 Votes)
2016	4.4 Satisfied (566 Votes)
2015	4.3 Satisfied (43 Votes)
2013	4 Satisfied (55 Votes)
2011	4.2 Satisfied (53 Votes)

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

How do you qualify for the homestead credit?

One of the key requirements is occupancy status homestead exemptions are typically only available for primary residences. Some other factors that may impact eligibility include your age and income, as well as your marital, veteran or disability status.

Is there an age where you dont have to pay property taxes anymore?

The minimum age requirement for senior property tax exemptions is generally between the ages of 61 to 65. While many states like New York, Texas and Massachusetts require seniors be 65 or older, there are other states such as Washington where the age is only 61.

Are seniors exempt from property tax in Oklahoma?

Eligibility. You must qualify for Homestead Exemption. (See Homestead Exemption) which includes that the homestead is your domicile or principal residence. The head of household must own the property and be 65 years or older prior to January 1 of the current year.

At what age do you stop paying property tax in Oklahoma?

If you are 65 or older as of March 15 of the filing period and presently qualify for additional homestead, you will not have to renew the additional homestead annually.

How do I freeze my property taxes in Oklahoma?

Apply in person in the Assessors office between January 1st and March 15th. Applications will be accepted through March 15th (or within 30-days if you receive an Increase in Valuation Notice). You must provide a copy of your most recent federal income tax return and proof of any other household income (if applicable).

How to avoid property tax in Oklahoma?

Property Tax Exemptions: Homestead Exemption. If a person owns the land and lives on the land as of January 1st of this year they may qualify for this exemption. Double Homestead Exemption. Senior Valuation Limitation (senior freeze) 100% Disabled Veterans.

At what age can you lock in your property taxes in Oklahoma?

Homestead property valuation shall be frozen by the County Assessor if the following conditions exist: The property owner must be age 65 or over as of January 1st to qualify. Gross household income from the preceding year does not exceed the 2024 maximum income qualification of $89,500.

Who can be exempt from property taxes?

Some types of properties are exempt from real estate taxes. These include qualifying nonprofit, religious and government properties. Senior citizens, veterans and those eligible for STAR (the School Tax Relief program) may qualify for exemptions as well.

Otc form 994 2025

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