Homeowners Exemption

 

 

 

 

 

 

 

 

 

 

 

 

When buying a home for the first time you most likely want to save money any chance you get. It can seem like an overwhelming and never ending drain on your bank account. When you finally close on your new home you probably won’t want to even think about any more paperwork or transactions, but a quick trip to the County Assessor’s office to file a homeowner’s exemption will save you so much money each year in property tax. 

 

What is it ?  

An exemption that reduces the taxable value of your home up to a maximum of $100,000 in value.  

 

Why do I need it?  

By reducing the taxable value of your home, your taxes are much LESS and you SAVE!  If you have a mortgage, this savings will likely reduce your total monthly mortgage payment. 

Who Qualifies?  

If you live in your home at least 6 months out of the year as your primary residence, you qualify!  

 

When do I need to file?  

You must file by the 15th of April in 2018! 

 

Where do I file?

The county assessors office for the county in which you reside.

 

Remember:  Idaho is a non-disclosure state and this means that you do not have to share the value of your home with the county when you apply (what you paid for it)   

 

If you are not sure about your home owner exemption status,  give us a call and we would be happy to help you!  We are here to help!

 

TEAM TINDALL

JohnAndTracey.com

JohnTindall@Windermere.com

TraceyTindall@Windermere.com

J: 208.818.2456

T: 208.818.2365

 

 

 

 

 

 

 

 

Posted on January 18, 2018 at 7:16 pm
John and Tracey Tindall | Category: Costs and Spending, First Time Home Buyer, Helpful Tips | Tagged , , , , ,

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