INDIANAPOLIS (September 5, 2007) - Governor Mitch Daniels took action today that will help more homeowners get property tax relief in 2008. The governor directed counties to accept homestead deduction and credit applications from now to October 15 for those who previously missed the filing deadline this year.
The standard homestead deduction reduces the taxable value of a home occupied by its owner by as much as $45,000 in 2008 while the homestead credit reduces the amount of taxes owed. The application for the homestead deduction and credit are filed with the county auditor.
"As I travel, I am meeting citizens who overlooked this deadline and are now facing the double whammy of a property tax increase without the protection of the homestead deduction and credit they are entitled to," said Daniels. "I've received bipartisan assurances from the legislative leadership that this extension will be ratified when they convene in November."
To be eligible for a homestead deduction in 2008, persons must be the owner of their primary residence as of March 1, 2007. The deadline to file for a homestead deduction and credit in 2007 was June 10. Those who filed by then need not do so again.
Legislation approved and signed by the governor provides for an additional $300 million in state provided property tax relief this year and $250 million more in 2008. Those who missed the June 10 filing deadline but meet the October 15 deadline will now be eligible for this 2008 property tax relief they otherwise would have missed.
The governor's action requires ratification by the Indiana General Assembly. Legislative leaders already have concurred with the governor's action.
This is the latest in a series of actions Daniels has taken to address the state's property tax problems. Most recently, on August 24, the governor extended the deadline for counties to adopt a local option income tax to December 31 and directed that the Department of Local Government Finance issue a memo to remind assessors throughout the state that it is not necessary for homeowners to provide an appraisal to appeal a property assessment.
Audio from the announcement is available here: http://www.in.gov/gov/2445.htm
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