With the new year quickly approaching, tax season isn’t far behind, and that means Hoosiers are preparing for the chore of filing their tax information – but many may not have realized that in order to receive their Homestead Deduction, they have to file a claim.
The Starke County Auditor’s Office said yesterday that if you haven’t verified your home since 2009, you will have to refile for the deduction.
If you own a home or are buying on a recorded contract, and use it as your primary place of residence, your home and up to one acre of land could qualify for a homeowner’s deduction. The deduction is either 60 percent of your assessed valuation or $45,000 – whichever is less. The homestead credit amount equals up to 25 percent (17 percent state and eight percent county) of your gross tax, according to current Indiana Code depending upon your taxing district.
Hoosiers that haven’t filed this deduction could be overpaying for their taxes, and Hoosiers who have filed two homestead claims, if caught, will be required to pay back the amount they saved up to three years plus penalties.
To see if your homestead deduction has been verified, check this link: http://www.co.starke.in.us/auditor/HomesteadList.pdf or call the auditor at (574) 772-9101.