Must not have a total household income over $38,600/year if applying in 2024, or $40,000/year if applying in 2025, which includes the Ohio adjusted gross income of the owner and the owner's spouse.

Ohio's Homestead Exemption protects the first $25,000 of your home's value from taxation. For example, if your home is worth $100,000, you will be taxed as if the home were worth $75,000. On average, those who qualify for the exemption save $400 a year.

Who qualifies for the Homestead Exemption? Homeowners over the age of 65: Must not have a total household income over $38,600/year if applying in 2024, or $40,000 if applying in 2025, which includes the Ohio adjusted gross income of the owner and the owner's spouse.

To apply, complete the application form (DTE 105A, Homestead Exemption Application Form for Senior Citizens, Disabled Persons, and Surviving Spouses), then file it with your local county auditor. The form is available on the Department of Taxation's website and is also available from county auditors.

Currently, Ohio offers a general homestead exemption and two enhanced exemptions. The general exemption exempts $26,000 of a home's value from taxation for homeowners aged 65 or older, permanently disabled, or surviving spouses aged 59 or older, provided their modified adjusted gross income does not exceed $38,600.

The Homestead Exemption program allows senior citizens and permanently and totally disabled Ohioans that meet annual state set income requirements to reduce their property tax burden by shielding some of the market value of their home from taxation.

The homestead exemption is a statewide property tax reduction program for senior citizens, those who are disabled, and surviving spouses of fallen first responders.

As of January 1, 2024, the new minimum homestead exemption is $349,720 and the new maximum is $699,426. For Riverside County, the 2024 homestead exemption is $612,000. For San Bernardino County, the 2024 homestead exemption is $475,000.

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Disabled applicants must complete form DTE 105E,. In 1970, Ohio voters approved a constitutional amendment permitting a homestead exemption that reduced property tax for lower income senior citizens.2. What kind of property tax savings will I receive? A Note From the Auditor. This is a statewide program which reduces the property tax burden of qualified senior citizens and permanently and totally disabled homeowners. This program may protect your home equity from judgments, liens, and creditors. Homestead Exemption is a form of property tax reduction in real estate taxes for those who qualify. The claim form, BOE-266, Claim for Homeowners' Property Tax Exemption, is available from the county assessor. Ohio eliminated taxation of tangible personal property in 2005, phasing it out over five years (Ohio. Department of Taxation 2016b).

Homestead Act For Ohio In Riverside

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