This act was implemented to give a real estate property tax break to those who are
65 years or older, or
Legally blind, or
100% disabled.
The first $50,000 of a home's tax appraisal value is exempt from property taxes for those who qualify for the homestead exemption. The application for exemption is made at the county auditor's office in the county where the dwelling is located. Failure to apply constitutes a waiver of the exemption for that year. The application for the exemption does not have to be renewed, but any changes that affect eligibility for the exemption must be reported to the county auditor. The exemption does not carry forward to a new property.
To be eligible, the owner must hold a fee simple title or life estate to the property. The property must be the applicant's primary residence. The applicant must have been a legal resident for at least one year. If the property is jointly owned by both spouses, the exemption may be granted if either qualify.
If you need assistance filling out the application, reach out to me. 803-524-0027