Thursday, September 06, 2007

Property Owners gets an exemption to file for Homestead exemption

The 2008 regular deadline for filing for homestead exemption for homeowner was June 10, 2007, but the deadline has been lifted for those homeowners who purchased their homes before March 2, 2007. These homeowners have until October 15 , 2007 to file for the exemption to kick on their 2008 tax bill. The maximum amount for an homestead exemption is $45,000. The exemption will help reduce homeowners tax liabilities.

The homestead exemption is scheduled to be reduced in the future with the possibility of a total elimination of the exemption.

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