Ohio
Homestead Reduction Information
The
Homestead Reduction is a tax exemption for senior citizens 65 years
and older as well as totally and permanently disabled persons who own
their primary residence. The tax reduction shields $25,000 of market
value for eligible homeowners. Ohio House Bill 119, signed into law
by Gov. Ted Strickland, eliminated the $26,800 household income ceiling
allowing over 500,000 more households to be eligible for the reduction.
If
a person owns more than one home in Ohio, the Homestead Reduction is
available for the property in which the person is registered to vote
and used for income tax purposes.
Current requirements
for Ohio Homestead Reduction:
Is at least 65 years
old during 2007 - or
Is permanently and
totally disabled as certified by a licensed physician or psychologist,
or a state or federal agency - or
Is the surviving
spouse of a person who was receiving the previous Homestead
Exemption at the time of death and where the surviving spouse
was at least 59 years old on the date of death.
|
To
apply for the Homestead Reduction, complete form DTE
105A-Temporary, Homestead Exemption Application Form for Senior Citizens,
Disabled Persons, and Surviving Spouses. The form needs to be submitted
prior to the first Monday of June to be eligible for the deduction.
For
additional information regarding the Ohio Homestead Reduction contact
your county auditor or view the Ohio
Department of Taxation's Homestead Reduction FAQ's.
