Public Act 74 of 1995 provides for an exemption to be filed by mail or in person at the July or December Board of Review for the year of the claim, or the following year's July or December Board of Review. To petition the Board of Review you must submit a signed Affidavit for Homestead Exemption (form 2368).
The exemption offers eligible homeowners the opportunity to shield up to $28,000 of the market value of their homestead (a dwelling and up to one acre of land) from property taxation. For example, if a home is valued at $100,000, the property tax will generally be billed as if the home were valued at $72,000.
The exemption is not entered anywhere on your federal income tax return. Homestead exemptions are usually filed at your county courthouse, at the tax assessor's office.
If you own a home and use it as your primary place of residence, your home and up to one acre of land could qualify for homestead deductions on your property tax bill.
The exemption offers eligible homeowners the opportunity to shield up to $28,000 of the market value of their homestead (a dwelling and up to one acre of land) from property taxation. For example, if a home is valued at $100,000, the property tax will generally be billed as if the home were valued at $72,000.
The exemption is not entered anywhere on your federal income tax return. Homestead exemptions are usually filed at your county courthouse, at the tax assessor's office.
The exemption is not entered anywhere on your federal income tax return. Homestead exemptions are usually filed at your county courthouse, at the tax assessor's office.