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Today we are going to talk about the homestead exemption and what it means to you and your tax bill. A homestead exemption is a tax break that you get on your primary residence, but we’ve found that many people don’t have it filed with the state. A few weeks ago we visited with a client who was looking to sell their home and we found that they were paying an extra $1,200 dollars in taxes over the last three years because they didn’t file their homestead exemption.
A homestead exemption is a tax break that you get on your primary residence.
There are a few reasons this could have happened to you. The most likely cause is that in 2012, a little pink slip was sent out to homeowners by the state, and if you didn’t fill it out and return it, your homestead exemption was removed.
If you’re not sure if your homestead exemption is filed or not or if you’ve noticed your taxes have gone up at all in the past few years without explanation, you have until December 31st to file your homestead exemption for 2016.
You can go here to enter your home’s information and check that you have your homestead exemption filed. If you don’t, the clock is ticking!
Let’s head into the new year with everyone getting as much as they can out of their homestead exemption. If you have any questions, feel free to give us a call or send us an email. We look forward to hearing from you!
