How and where to find Property Tax discounts to save hundreds of dollars on your Real Estate Tax bills

property tax discounts,homestead exemptions,property taxes,frugal living

  • Property Taxes- How to Save HUNDREDS!

    Another year has come and gone and property taxes are once again due. I urge you to look closely at your property tax bills, as they often contain errors. For example, this year, our tax bill was $512 MORE than it was supposed to be due to a clerical error in our local tax office omitting a basic exemption on our bill.

    Are you getting screwed on your Property Taxes?? Here's how to tell

    Many States and Counties offer huge discounts that can be applied to your Property Tax Bill. The homestead exemption is one of the more common exemptions that you or your family may qualify for:

    1. Homestead Exemption- this exemption can be based on several qualifying factors:

    • Age
      (65 and over, generally)
    • Disability or Handicaps
    • Title Basis- fee simple or partial title to the house or life estate (In basic terms- if you've owned your home for the year and Lived IN it, as opposed to owning a property and renting it out

    2. Residential Energy Efficient Property Credit
    • Some areas give a credit of 30% of your costs for qualifying properties (those that use solar electricity, solar water heating, and fuel cell property).
    • Solar Property Tax Exemptions by State

    3. Veterans Discounts

    4. Widow & Widower's Exemption- if your spouse passed, you may qualify for an exemption, depending on your state.

    5. Disability Exemption for Ex-Service Member - ex-service members often get discounts of up to 10%

    6. School Tax Relief - refundable property tax credit

    Although each State is different, nearly ALL states offer exemptions based on varying factors.
    Generally speaking, the homestead exemption is based on a fixed monetary amount, such as the first $50,000 of the property's assessed value. Which means, that a home valued at $150,000 would be taxed only on $100,000, which results in quite a substantial savings.

    How do I get it?

    Some states require that you fill out an application and "prove" that you meet the guidelines. In our case, they required a utility bill to "prove" we'd been living in our home. Simply go to your local tax office (usually at the City Hall or Town Hall) and request information on property tax exemptions, particularly , the homestead exemption.

    In some cases, if you've been a resident for several years and the town has neglected to apply the discount, you may be able to get them to give you retroactive discounts, thereby giving you a tax credit or property tax refund.

    Wouldn't it be great to start off the year with an extra chunk of change in your pocket for 10 minutes of your time?

    See Also: How to Contest your Property Taxes & Win

    Tax Exemption Link By State: please feel free to add your state using the comment boxes below

    1. Alabama
    2. Alaska
    3. Arizona
    4. California
    5. Colorado
    6. Connecticuit
    7. Delaware
    8. Florida
    9. Georgia
    10. Idaho
    11. Indiana
    12. Illinois
    13. Iowa
    14. Kansas
    15. Kentucky
    16. Maine
    17. Maryland
    18. Massachusetts
    19. Michigan
    20. Minnesota
    21. Mississippi
    22. Missouri
    23. Montana
    24. Nebraska
    25. Nevada
    26. New Hampshire
    27. New Jersey
    28. New Mexico
    29. New York
    30. North Carolina
    31. North Dakota
    32. Ohio
    33. Oklahoma
    34. Oregon
    35. Pennsylvania
    36. Rhode Island
    37. South Carolina
    38. South Dakota
    39. Tennessee
    40. Texas
    41. Utah
    42. Vermont
    43. Washington
    44. West Virginia
    45. Wisconsin

    How to Find your state if it's not listed:

    Google the following: (Your State Name) Property Tax Exemptions

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    Comments 6 Comments
    1. CoolCat's Avatar
      CoolCat -
      OMG! OMG! OMG! I checked ours and we qualify for the homestead exemption too. Our Tax bill went down $763 !!! OMG!
    1. wilbe95's Avatar
      wilbe95 -
      South Dakota Property Tax: Property Tax Relief Programs
    1. SClady's Avatar
      SClady -
      What about SOUTH CAROLINA ?
    1. FreebieQueen's Avatar
      FreebieQueen -
      Quote Originally Posted by SClady View Post
      What about SOUTH CAROLINA ?
      SC is listed, as are the directions to search for your own state if you don't see it listed.
    1. floridawriter's Avatar
      floridawriter -
      Move to Florida!!

      If property own/reside is assessed at $75K or more, you get $50K homestead exemption
      If your property own/reside assessed at $50K or less, $25K homestead exemption

      Many exemptions in Addition to homestead include but probably not limited to:

      65 & older up to additional $50K
      Veterans at least 10% disabled, additional $5K
      Quadriplegic homeowners pay no property tax
      Totally/permanently disabled, additional $5K

      (I'm pretty sure I've left some out)

      From "Florida Real Estate Principles, Practices & Law" by Linda Crawford 2014
    1. Galee53's Avatar
      Galee53 -
      Thank you for listing the information for each state in regards to the exemptions on property. I was able to hand this down to a friend of mine and now she gets the exemptions she is entitled to.
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