Homestead Act Ohio Age In Miami-Dade
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Is there a Homestead Exemption available? You may qualify is you are age 65 or older, or permanently disabled, and live in your own residence. For further information, call the Miami County Auditor at 937-440-5925. Call the Miami County Auditor at 937-440-5925.
Must not have a total household income over $36,100/year for 2023, or $38,600/year for 2024. This amount is annually adjusted for inflation. If you were enrolled prior to tax year 2014 but do not meet the current income requirements, you are still eligible for the exemption.
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.
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. Must be age 65 by December 31 of the calendar year for which the exemption is sought.
Qualifying homeowners, including disabled veterans and seniors, can exempt up to $150,000 based on the value assessment of their home. Qualifying homeowners age 18 and older can exempt up to $400,000 in property value. Qualifying homeowners can get a property tax credit up to $425 in 2024.
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.
The senior citizen credit offers a $50 credit per tax return. Seniors who have received a total, lump-sum distribution may be eligible for a one-time lump-sum distribution credit. Use the worksheet in the Ohio income tax instructions booklet to calculate your credit.
The Homestead Exemption is a valuable property tax benefit that can save homeowners up to $50,000 on their taxable value. The first $25,000 of this exemption applies to all taxing authorities. The second $25,000 excludes School Board taxes and applies to properties with assessed values greater than $50,000.
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 qualified levies and property taxes for their primary residence.
