| To Qualify: |
1) Property must be owner
occupied
2) Improvement to property must actually cause the assessment to increase
3) Property must be a residential single family home, town home, or
condominium |
| Documents Needed: |
None |
| Process: |
When the improvement is completed,
our office will send out a field inspection team and confirm
the nature and extent of the improvement. Our office will then calculate
the assessment increase
and post it on your property record card. At the same time, our office
will automatically prepare
the exemption paperwork and submit it to the county. The exemption
amount will match the
assessment increase amount. No action by the property owner is required. |
| Effect: |
The homestead improvement
exemption exempts from taxation that portion of any assessment
increase caused by the improvement made to the property. The exemption
amount is limited to a
maximum of $25,000 per property at any one time. The exempted amount
is valid for 4 years
only. Click here for estimate of property
tax savings.
|
| Questions ?: |
Call our Taxpayers Service
Department at 630-529-6927 |
