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  • In State Form 51781 2020

Get In State Form 51781 2020

INDIANA PROPERTY TAX BENEFITS State Form 51781 (R14 / 120) Prescribed by the Department of Local Government FinanceTHIS FORM MUST BE PRINTED ON GOLD OR YELLOW PAPER. Listed below are certain deductions.

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Paperwork. Homeowners must fill out a claim for homestead property tax standard/supplemental deduction, State Form 5473. The form must be filled out each time the property title changes, including for the transfer of your property into your trust.

Reduce the property tax on your home The standard homestead deduction is either 60% of your property's assessed value or a maximum of $45,000, whichever is less.

To file in person, you should take the packet you received at closing to your county auditor's office. Tell them you need to file your mortgage exemption. To file via mail, you can obtain the mortgage exemption form at the IN.gov website.

To receive the Over 65 Deduction, taxpayers must meet all the requirements. These requirements include: The applicant and any joint tenants or tenants in common must reside in the home for at least one year before the deduction is claimed. The property's assessed value cannot exceed $200,000.

The standard homestead deduction is either 60% of your property's assessed value or a maximum of $45,000, whichever is less. The supplemental homestead deduction is based on the assessed value of your property and equals: 35% of the assessed value of a property that is less than $600,000.

If you own property or a mobile home or are buying on a recorded contract, and you are at least age 65 on or before December 31 of the year before the taxes are due, you could qualify for the following deduction if you meet the following requirements: Have a combined adjusted gross income that does not exceed $25,000.

The Indiana Constitution states that property tax liability “may not exceed” the 1-2-3% caps, giving lawmakers an ability to establish the lower caps. The reduced property tax bills for homeowners is estimated to result in $357 million in tax relief in 2024, ing to Indiana's Legislative Services Agency.

Property taxes in Indiana are paid in arrears and are typically due annually in two installments – May 10 and November 10.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
IN State Form 51781
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  • Indiana Property Tax Benefits Form 51781
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