Tax Exemptions

Other than how and when to make your mortgage payment, this is the most important step to closing on your home   About 45 days after closing, you will receive a reminder from Lori and Lindsay to file your exemptions. While you can do this online, we highly recommend that you go to your county auditors office and file in person. When you go to file, you should take all of your closing paperwork with you and you should leave with your closing paperwork AND a receipt for your exemptions.

If you forget to file your exemptions, your taxes will increase significantly the following year and you will be unable to do anything about it until the next year. If there is an error with your taxes, your exemption receipt will help you get everything fixed.

The most basic exemptions that can be filed are homestead and mortgage, however, there are a variety of others that could apply to you. At closing, you will receive a packet explaining all possible exemptions. Make sure you read through these to see if there are additional exemptions you can file (over 65, veteran, etc).

Have questions? Get in touch! 317-384-4712 or lflynn(at)c21scheetz.com.

Posted on February 25, 2019 at 7:02 pm
Lori Flynn | Category: Buying, Homeowner

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