Get DTE FORM 1 - Delaware County

If you file for bankruptcy in Delaware, the Delaware homestead exemption protects up to $125,000 of equity in your home. Most people want to know whether they can keep valuable property before filing for bankruptcy—especially a home.

Age requirements A person aged 65 years or older, A person who lives in the same household with a spouse who is aged 65 years or older, or. A person aged 50 years or older who is a widow of someone who reached the age of 65 before passing away.

Delaware's $125,000 homestead allotment protects that home equity from creditors. This means that if the equity invested in the home is less than $125,000, the person may not have to sell the home.

The Homestead Exemption reduces the taxable portion of your property's assessed value. With this exemption, the property's assessed value is reduced by $80,000. Most homeowners will save about $1,119 a year on their Real Estate Tax bill starting in 2023.

The Owner Occupancy Credit is a program in the state of Ohio that allows property owners who live in their property to receive a 2.5% reduction credit on the property taxes for their primary residence.

The homestead exclusion reduces the assessed values of homestead-approved properties, reducing the school property tax on these homes. In order to be eligible for this program, the homeowner must reside in a dwelling primarily used as their permanent home.

This allows senior citizens (65 or older) as well as permanently and totally disabled homeowners to reduce their real estate taxes by the amount equal to the taxes that would otherwise be charged on $25,000 of the market value of an eligible taxpayer's homestead or residence.

The income limit is $35,000 a year for homeowners and $15,000 annually for renters, and half of Social Security income is excluded. Spouses, personal representatives or estates may also file rebate claims on behalf of claimants who lived at least one day in the claim year and meet all other eligibility criteria.