Crawford County Auditor Robin Hildebrand announced today that the Homestead Exemption Tax Relief Program that benefits local property owners age 65 and older, or property owners who are totally and permanently disabled, will see changes in 2014.
According to County Auditor, Robin Hildebrand, “the Ohio Legislature added an income or ‘means’ testing requirement that goes into effect in 2014 for newly qualifying applicants of the homestead tax relief program.” Auditor Hildebrand emphasizes to property owners that, “under the new law, property owners already receiving the homestead tax credit will be ‘grandfathered’ and will continue receiving the tax reduction without undergoing the income or ‘means’ testing mandated by the State Legislature.”
The Homestead Exemption Program helps property owners who are age 65 and older or who are totally and permanently disabled, and who own their home as their principal place of residence, reduce their annual real estate property tax liability. Local government entities within the County are reimbursed by the State of Ohio for any savings realized by local homeowners.
Auditor Hildebrand encourages any individual who turned 65 during 2013 or who became totally and permanently disabled before January 1, 2013, and who has not yet filed a first time Homestead Exemption application with the County Auditor’s Office, to do so before June 2, 2014. This “late application” will allow any taxpayer that was qualified in 2013 to take advantage of a “one-time” opportunity to apply for this tax credit late, and, before the income or “means” testing requirement goes into effect.
The Homestead Exemption Program can result in significant savings and is based on $25,000 of taxable value (limited to the home site of the property). The tax savings realized by taxpayers will vary depending on where they live and the approved tax rates for that property location. The estimated tax savings in Crawford County ranges between $297.10 and $490.63 and is based on current tax rates.
For more information or assistance with understanding the Homestead Exemption Program, property owners may visit the County Auditor’s website at: http://www.crawfordauditor.info/, visit the office at 112 E. Mansfield Street, Bucyrus, Ohio, or call 419-562-7941.