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Posted on: May 15, 2017

Homestead Exemption Reminder

FOR IMMEDIATE RELEASE


May 15, 2017


CONTACT: Ralph T. Meacham


Homestead Exemption Reminder


Mahoning County, OH - Auditor Ralph Meacham is reminding taxpayers that the timeframe to apply for the Homestead Exemption and Owner Occupant Reduction is to the end of the tax year to which the exemption or reduction applies.

The Owner Occupancy Tax Reduction is available to homeowners who own and occupy their home as their principal place of residence. The Homestead Exemption for Senior Citizen and Disabled Persons allows eligible senior citizen and disabled homeowners to shield $25,000 worth of the fair market value of their home, garage and one acre of land from property taxes. For example, the owner of a home appraised at $100,000 who is eligible for the Homestead Exemption would be taxed as if the home were worth $75,000.

The Homestead Exemption for Disabled Veterans shields up to $50,000 worth of the fair market value of their home and is open to homeowners who own and occupy the home as their domicile as of January 1 of the year of application and who are determined to have a 100% service­ connected disability or have a 70% service-connected disability and be individually unemployable, with no income threshold.

From January 1, 2017 through December 31, 2017, a homeowner may apply for a late Homestead Exemption if they met the following qualifications for tax year 2016 or a current Homestead Exemption if they met the following qualifications for tax year 2017:

  • Owns and occupies the home as their domicile as of January 1;
  • Is at least 65 years old or will reach age 65; OR
  • Is certified totally and permanently disabled as of January 1 regardless of age; OR
  • Is the surviving spouse of a qualified homeowner who was receiving the Homestead Exemption at the time of death, and who was at least 59 years old on the date of their spouses death; AND
  • Meets the income threshold.  Income is the Ohio Adjusted Gross Income (OAGI) of the applicant and applicant’s spouse; OAGI can be found on line 3 of the Ohio income tax return. For property tax year 2016, the income threshold on 2015 Ohio income tax return is $31,500.  For property tax year 2017, the income threshold on 2016 Ohio income tax return is $31,800.


The year round filing period means that from January 1, 2017 to December 31, 2017, a homeowner may apply for a late Owner Occupant Reduction if they owned and occupied their home as their principal place of residence on or before January 1, 2016 or a current Owner Occupant reduction if they owned and occupied their home as their principal place of residence on or before January 1, 2017.


Auditor Meacham is also informing taxpayers that his staff is reviewing current ownership of parcels receiving occupancy based reductions.  Property owners who do not qualify for the reduction will be removed from the program.


"I encourage taxpayers to review their occupancy-based reductions as reflected on their first half tax bill.  If a taxpayer is receiving a reduction for which they do not qualify, they should report that to our office immediately.   Of course, if anyone is unsure of their exemption status, my staff is always available to answer questions," Auditor Meacham stated.



Press Release