Disabled Veterans' and Homeowners' Exemption Match and Multiple Claims Listing
The homeowners' exemption allows an owner to reduce property tax liability on a dwelling which is occupied as the owner's principal place of residence as of 12:01 a.m. on the lien date (January 1). The maximum exemption is $7,000 of the full value of the property. Once granted, the homeowners' exemption remains in effect until such time as:
- Title to the property changes;
- The owner no longer occupies the dwelling as his or her principal place of residence on the lien date; or
- The property is otherwise ineligible.
The disabled veterans' exemption allows for an exemption of $100,000 (Basic Exemption), as adjusted for the relevant assessment year for property that constitutes the principal place of residence of a veteran; or the principal place of residence of the unmarried surviving spouse of a veteran who, because of injury or disease incurred in military service, is blind in both eyes, has lost the of two or more limbs, or is totally disabled. The $100,000 Basic Exemption increases to $150,000 of assessed value (Low-Income Exemption), as adjusted for the relevant assessment year, if the household income for prior year did not exceed $40,000, as adjusted for the relevant assessment year.
- Once granted, the Basic Exemption remains in effect until terminated without any subsequent filing.
- Annual filing is required for any year in which a Low-Income Exemption is claimed.
- No other property tax exemption may be granted to a residence which has been granted a Disabled Veterans' Exemption. However, if two or more qualified veterans own a property in which they reside, each is entitled to the Disabled Veterans' Exemption to the extent of his or her interest.
The Board and county assessors are charged with the responsibility of ensuring that the disabled veterans' and homeowners' exemption are properly administered. The clearinghouse program administered by the Board for the disabled veterans' and homeowners' exemption is commonly referred to as the Disabled Veterans' and Homeowners' Exemption Match and Multiple Claims Listing.