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Tax Relief and Tax Credits
Homestead Deduction
This benefit reduces your real property's assessed value by $64,000 prior to computing the yearly tax liability.
The Homestead benefit is limited to residential property. To qualify:
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An application must be on file with the Office of Tax and Revenue;
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The property must be occupied by the owner/applicant and contain no more than five dwelling units (including the unit occupied by the owner); and
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The property must be the principal residence (domicile) of the owner/applicant.
If a properly completed and approved application is filed from October 1 to March 31, the property will receive the Homestead benefit for the entire tax year (and for all tax years in the future). If a properly completed and approved application is filed from April 1 to September 30, the property will receive one-half of the benefit reflected on the second-half tax bill (and full deductions for all tax years in the future).
The Homestead Deduction application is available on the Real Property Tax Forms page.
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