Monday, July 16, 2007

Reducing local government greed


Write
the Governor and tell him you want these exemptions now, if you did not sign up in time.

(Up to $45,000) Homestead Deductions - Must reside on the property and own by March 1, 2007. Exemption amount dependent on assessment. Will also receive a percentage credit on gross taxes. (Percentage varies from year to year.)



$3,000) Mortgage Exemption - Must own as of March 1, if you re-finance, you must refile. Mortgage must be recorded before filing for exemption.


$12,480) Over 65 Exemption - Must be over 65 years of age by December 31 of the year preceding filing for application; was the owner or contract buyer of the property for at least one year prior to claiming the deduction,and total adjusted gross income less than $25,000, when combined with that of his or her spouse and any individual with whom he or she shares ownership; reside on property. Assessed value on residential property not to exceed $144,000.

$12,480) Blind or Disabled - Taxable gross income under $17,000; proof of blindness or disability; reside on property.

$12,480) Veterans Disability and World War I
$18,720) and Spouses Exemptions - vary in
$24,960) eligibility; ask about them

Tell a friend.

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