Property Tax Relief - Exemptions & Credits

Property Tax Relief - Exemptions/Credits


2 Year Tax Abatement - Properties with new construction may qualify for a two-year tax abatement. What this abatement does is take $150,000 off of the true & full value of the home, for figuring real estate property taxes, for two years. The two-year tax abatement does not reduce special assessments or drain taxes.

An example of this abatement would be a property will a true & full value of $300,000 would be reduced to $150,000 for two years to figure the consolidated property tax amount.
Full Assessment (No Abatement):
$300,000 home = Net Consolidated Tax $3,881.38
Reduced Assessment (With the Abatement):
$300,000 - $150,000 = $150,000 = Net Consolidated Tax $1,940.69

This exemption must be applied for through the appropriate city or county assessor’s office.

Click here for a listing of local city assessor’s.

Click here for a listing of local township assessor's.

Click here for additional information about the two-year tax abatement.

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Two credits available to reduce or possibly eliminate consolidated property taxes are the Homestead Credit and the Veteran’s Credit.

Homestead Credit – This credit is available to people over 65 years of age or permanently and totally disabled. The credit varies based on an individual’s yearly income and total assets. An applicant’s income may not exceed $42,000 and assets may not exceed $500,000. This credit must be applied for through the appropriate city or county assessor’s office.

Click here for more information about the homestead credit.

Disabled Veteran’s Credit – This credit is available to disabled military veterans with a service connected disability of 50% or greater. This credit must be applied for through the appropriate city or county assessor’s office.

Click here for more information about the disabled veteran’s credit.