Homestead Exemption In Ky In Suffolk
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FAQ
The Kentucky Department of Revenue has set the maximum homestead exemption at $46,350 for the 2023 and 2024 tax periods.
As of 2024, the federal homestead exemption is $27,900 for an individual and $55,800 for married couples filing jointly. In contrast, New York's exemption amounts are: $179,950 for the counties of Kings, Queens, New York, Bronx, Richmond, Nassau, Suffolk, Rockland, Westchester, and Putnam.
Submitting a Homestead Exemption Application Complete the Application for Exemption Under the Homestead/Disability Amendment. Gather any supporting documentation. Contact your local Property Value Administrator at Find My PVA.
Homestead tax exemptions usually offer a fixed discount on taxes, such as exempting the first $50,000 of the assessed value with the remainder taxed at the normal rate. With a $50,000 homestead exemption, a home valued at $150,000 would be taxed on only $100,000 of assessed value.
