Homestead Application Process In Ohio

State:
Multi-State
Control #:
US-0032LTR
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Word; 
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Description

The Homestead application process in Ohio allows qualified homeowners to claim a reduction in property taxes, providing financial relief and protection from creditors. To apply, individuals must fill out the Ohio Homestead Exemption Application, which requires information about the applicant's age, income, and property details. Key features of the form include eligibility criteria, the requirement for documentation to verify age and income status, and submission guidelines specific to each county. It is essential to submit the application to the local county auditor's office by the designated deadline to be considered for tax reduction in the following year. For attorneys, partners, owners, associates, paralegals, and legal assistants, understanding this process is crucial as they may assist clients in navigating tax relief options, ensuring compliance with local laws, and offering strategically tailored advice. Filling out the form correctly and timely can greatly benefit homeowners with substantial savings, making it a vital aspect of property management and financial planning in Ohio.

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FAQ

Line 4: Enter income from any other sources not included above (income reported on Form(s) 1099-MISC, self-employment income, business income). Do NOT include any Social Security benefits as they are not taxable in Ohio.

To qualify, an Ohio resident must own and occupy a home as their principal place of residence as of January 1st of the year they apply, for either real property or manufactured home property.

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.

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.

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.

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.

Line 4: Enter income from any other sources not included above (income reported on Form(s) 1099-MISC, self-employment income, business income). Do NOT include any Social Security benefits as they are not taxable in Ohio.

Ohio does not tax Social Security benefits. Ohio's income tax return starts with "federal adjusted gross income," which includes the taxable portion of your Social Security benefits, if any.

The homestead exemption for senior and disabled persons allows eligible homeowners to exempt the first $28,000 of their home's auditor's appraised value from taxation. For example, an eligible owner of a home with an auditor's appraised value of $100,000 will be billed as if the home were valued at $72,000.

SOCIAL SECURITY PAYMENTS ARE NOT CONSIDERED IN THE INCOME REQUIREMENTS.

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Homestead Application Process In Ohio