How do I file a mortgage exemption in Lake County Indiana?
In order to file for Homestead Deduction, you must be a full time resident of the property and the property address must match the address from your valid driver’s license or state ID. You will be charged a non-refundable convenience fee of $5.50 for filing your exemptions online.
Who can file for homestead exemption in Indiana?
Eligibility. To qualify for the homestead credit in Indiana, you must reside in your own home, which includes mobile and manufactured homes, on land not exceeding one acre and you must have owned the property by March 1 of the current property tax year.
Do I have to file homestead exemption every year in Indiana?
Taxpayers do not need to reapply for deductions annually. Reapplication should only occur if the property is sold, the title is changed or the home is refinanced (mortgage deduction only).
Do you have to refile homestead exemption after refinance Indiana?
In certain states, such as Indiana, a mortgage refinance eliminates a former homestead exemption. Although the same person(s) owns and lives in the home, a new mortgage wipes away the homestead exemption. In such states, homeowners must re-file their homestead exemption or receive no protection at all.
How much does a mortgage exemption save you in Indiana?
Lower your tax on mortgaged property If you are buying property on a recorded mortgage or recorded contract and are a resident of Indiana, you could qualify for a mortgage deduction on your property tax bill. This deduction is either one-half of the property’s assessed value or $3,000, whichever is less.
What is needed for mortgage exemption?
You’ll need to itemize your deductions to claim the mortgage interest deduction. Since mortgage interest is an itemized deduction, you’ll use Schedule A (Form 1040), which is an itemized tax form, in addition to the standard 1040 form.
What age do you stop paying property taxes in Indiana?
65
Turned 65 or older by December 31 of the prior year.
Does Indiana have a senior discount on property taxes?
Senior citizens, as well as all homeowners in Indiana, can claim a tax deduction if their home serves as their primary residence. This exemption provides a deduction in assessed property value. The deduction amount equals either 60 percent of the assessed value of the home or a maximum of $45,000.
Do you have to homestead your house if you refinance?
Homestead exemptions are legal conventions that protect owner-occupied primary homes from certain property taxes and creditors. A homestead exemption typically lasts until the homeowner sells or moves; however, in certain states, homeowners must re-file for the exemption after a mortgage refinance.
What are property records in Lake County Indiana?
Lake County Property Records are real estate documents that contain information related to real property in Lake County, Indiana. Public Property Records provide information on homes, land, or commercial properties, including titles, mortgages, property deeds, and a range of other documents.
What does the Lake County Auditor do?
The Lake County Auditor, located in Crown Point, IN, evaluates the performance of government agencies to ensure the transparency and accountability of Crown Point government. The Auditor’s Office performs an oversight role, evaluating the integrity of financial operations and compliance with laws, regulations, and rules.
How do I contact the Auditor’s deduction Department?
The Auditor’s Deduction Department is located in the Building A, 2nd Floor, 2293 N. Main Street, Crown Point. The office is open from 8:30 A.M. to 4:30 P.M., Monday through Friday. You can reach a customer service representative by calling 219-755-3120.
What are public property records in Indiana?
Public Property Records provide information on homes, land, or commercial properties, including titles, mortgages, property deeds, and a range of other documents. They are maintained by various government offices in Lake County, Indiana State, and at the Federal level.