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OTC 921 Tax Year 2023 2024 Revised 11-2022 Name: (Last) (First) (MI) Account Number:.
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Oklahoma otc921 uslegal FAQ
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Homestead Exemption is granted to the homeowner who resides in the property on a permanent basis on January 1. The deed or other evidence of ownership must be executed on or before January 1 and filed in the County Clerk's office on or before February 1.
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The property owner must be age 65 or over as of January 1st to qualify. Gross household income from the preceding year does not exceed the 2023 maximum income qualification of $85,300. This includes income from all sources (including all persons occupying the home), except gifts.
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Homestead Exemption is granted to the homeowner who resides in the property on a permanent basis on January 1. The deed or other evidence of ownership must be executed on or before January 1 and filed in the County Clerk's office on or before February 1.
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Senior citizens (65 and Older) earning $85,300 or less are eligible for the Senior Valuation Freeze which can reduce your property tax bill over time. This will freeze the taxable, or assessed value, of your residential property.
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Head-of-household (as defined below) must be age 65 or older prior to January 1, of current year. Head-of-household must be an owner of and occupy the Homestead property on January 1, of current year. Gross household income (as defined below) cannot exceed the current H.U.D.
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(4) Maximum household income qualification for the Additional Homestead Exemption is $25,000.00 for all counties. (5) If age 65 or over and have been granted an Additional Homestead Exemption no application is required unless your gross household income exceeded $25,000.00.
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You are not required to apply for a Homestead Exemption each year if you have been granted a Homestead Exemption and continue to occupy the homestead property. However, if you change your deed or move you will need to file a new application.
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Homestead property valuation shall be frozen by the County Assessor if the following conditions exist: The property owner must be age 65 or over as of January 1st to qualify. Gross household income from the preceding year does not exceed the 2023 maximum income qualification of $85,300.
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