Check Your Homestead Exemption
From the Edmond Sun:
Sullivan urges homeowners ‘check homestead’
The Edmond Sun
EDMOND — Oklahoma County Assessor Leonard Sullivan is urging county homeowners to review whether they are receiving all the tax breaks they are entitled to receive. Sullivan said potentially 50,000 homeowners are missing out on the homestead exemption.
Homestead Exemption lowers a resident’s property tax bill on their home and can provide a property tax savings of $75 to $130 in Oklahoma County by exempting the first $1,000 of assessed value from taxation on their residential property.
“We did a search on our advanced computer system and found there are nearly 50,000 homes without a homestead, where the owner gets mail delivered to the property. We think some of those may be owner occupied and they may be missing out on an important property tax saving. Anytime is a great time to save money on property taxes and we want to help,” Sullivan said.
Anyone who lives in their home on the first of each year can file for the homestead exemption, he said.
The deadline to file for the exemption is March 15, or within 30 days of receiving notice of any value change, whichever is later. The application can be found at www.oklahomacounty.org/assessor.
The complete article on the Edmond Sun website is available here.