What property tax exceptions are there?
The Homeowner’s Exemption will be a deduction of $7,000 from the sum of the original purchase price and any accrued appreciation. This net figure will be multiplied by 1%. This state tax rate does not include local city taxes, special assessments, etc. This exemption applies only to owner-occupied property. Any improvements to the property are taken into account to increase the taxable value of the property. To qualify for the Homeowner’s Exemption, the property must be owner occupied on March 1st. Once you have purchased a home, you are automatically sent a card for application. The card must completed and returned between March 1st and April 15th. Applications submitted after April 15th but before the end of the year will quality for only 80% of the exemption. If you have not received your Homeowner’s Exemption card by the 1st week in March, you should contact your local County Tax Assessor. The only time you should have to re-file is if there is some change in title. Again, a card s
