Various types of agricultural exemptions are provided under the authority of the state constitution. In addition, local governments are allowed, and some are, to provide larger allocations. Your county tax commissioner can answer questions about the standard exemption as well as current local exemptions.
Marion County Homestead Exemption
With respect to all property tax exemptions, the Board of Tax Advisers makes the final determination of eligibility; however, if the application is refused, the taxpayer must be notified, and an appeal procedure is then made available to the taxpayer.
Marion County has a local homestay exemption available to homeowners who entered on or before 01.01). An exemption occurs). This tax exemption exempts only municipal taxes and can apply to up to 5 acres of family property.
Marion County has a local facilitation exemption for over 65 schools. Homesteads and up to 5 acres are exempt from school tax. Application accepted within the same timeframe as government exemptions. Owners must 01.01. be 65 years of age or older in the tax year.
Marion County has one worthwhile stop: H.B. 918/919 allows the taxpayer to freeze the estimate of family wealth based on the previous year’s value. This is for school and district purposes in your home and up to 3 acres.
The Standard Property Waiver is available to all qualifying owners based on property and residency requirements and is an amount of $2,000 deducted from 40% of the property’s appraised value.
The Homestead Disabled Veterans Tax Exemption is available to certain disabled veterans or their unmarried spouses or minor children up to $50,000 to be deducted from 40% of the Homestead property’s appraised value.
Vriable exemption is an exemption available to homeowners age 62 and older whose gross household income is $30,000 or less. The exemption applies to state and local ad valorem taxes, but not to school taxes.