Be sure to file for any deductions that you are entitled....

Property Tax Deductions

HomeJanuary 5, 2018 is the deadline to file your property tax deductions for 2017 taxes payable in 2018.  If you purchased your property by December 31, 2017, your application must be signed and dated prior to December 31, 2017 and filed in the Vanderburgh County Auditor's Office by January 5, 2018. To be eligible for these deductions in 2017, persons must be the owner of their primary residence as of December 31, 2017. If you have previously filed a deduction on your property, you would only need to refile if you have moved or refinanced.

To ensure that you are not paying higher taxes than you should for next year, be sure to file for any deductions that you are entitled.

The following deductions/ credits are available to those who qualify:

  • Homestead Deduction (Standard and Supplemental) - Once filed on your residence, only needs to be refiled if you move.
    • If you are entitled to a Standard Homestead Deduction, you are entitled to receive the Supplemental Homestead Deduction.
    • Both the Standard and Supplemental Deductions are under on application and can be filed on a Sales Disclosure Form. 
    • Homestead Standard Deduction, HEA 1004-2011 amending IC 6-1.1-12-37 on Married Couples Maintaining Seperate Households.
  • Mortgage - Once filed, only needs to be refiled if you have refinanced. Must bring:
    • Date of Closing
    • Amount of Mortgage
    • Name of Finance Company or Institution.
    • Here is a link to the IN State website to view the Mortgage Deduction form. This form needs to be filed with the Vanderburgh County Auditor's Office and can be filled out at the office.
    Over 65 
    • Must turn 65 by 12/31/16
    • Combined adjusted gross income limit is $25,000
    • Must bring copies of pages one (1) and two (2) of your 2016 1040 (for all persons listed on the property)
    • Assessed value on all properties owned not to exceed $182,430
    • Must own property or been buying on contract for at least one year before claiming the deduction.
  • Over 65 Circuit Breaker Credit
    • Must qualify for Homestead Standard Deduction and turn 65 by 12/31/16
    • Adjusted gross income not to exceed $30,000; combined adjusted gross income not to exceed $40,000 
    • Must bring copies of pages one (1) and two (2) of your 2015 1040 (for all persons listed on the property)
    • Assessed value on all properties owned not to exceed $159,999
    • Must own property or been buying on contract for at least one year before claiming the deduction.  
    • Click here for information and FAQs on the Over 65 Circuit Breaker Credit 
    • Blind / Disability - Must bring:
      Doctor's statement for proof of blindness or disability, or an Awards Letter from Social Security for proof of disability.
    • Veterans - with total or partial disability. Must bring:
      • VA Statement of Benefit Record (Form 20-5455) with a code one listed in Item # 15 or
      • Pension Certificate or
      • Award of Compensation or
      • Letter of Disability from your local Veterans Administration Office located at 201 NW Fourth St., Room 303 at the Old Courthouse Building.
    • Deduction for Model Homes
      •  Up to 50% on assessed value of improvements
      •  May file on property that consists of a single family residence, single family townhouse, or single family condominium unit that has never been occupied as a principal residence and is used as a display or demonstration to prospective buyers. Owner's regular office space is not considered a model residence (sales office is considered part of the model residence).
      • Must file by January 2, 2017 for 2017 taxes payable in 2018.
      • Must file each year.
      • Model residences located in a TIF area are not eligible for this deduction.
      • Note: The Deduction for Model Home Residence (IC 6-1.1-12.6) was effective January 1, 2009.  The law stated that the deduction applies only to a model residence that is assessed for the assessment date for 2009 or later.  This translates to the deduction being first available for 2009Pay2010.  In May of 2009, HB 1071 made the Deduction for Model Residence retroactive to 2008Pay2009.  Generally, a qualified owner of a Model Residence is entitled to a 50% deduction of the assessed value of a model residence.  This does not include the land on which it is located.
      • Click here for the Application for Model Residence Deduction with instructions and qualifications.  
    • Deductions for Residence in Inventory
      • The deduction is available to a person that builds a single family residence, a single family townhouse, or a single family condominium unit and holds it for sale in the ordinary course of the person's trade or business.
      • The application must be filed for each assessment date for which the property owner wishes to receive this deduction.
      • This deduction is available to qualifying properties first assessed as partially completed or fully completed structures for the assessment date of March 1, 2012 and later years.
      • For more information click Application for Residence in Inventory Deduction form with instructions and qualifications. 
    • Statement for Deduction of Assessed Valuation (Attributed to Solar Energy System/ Wind, Geothermal or Hydroelectric Power Device) 
      •  All claims for a deduction filed on a pursuant or hydroelectric system or device must be accompanied by proof of certification of qualification by the Department of Environmental Management pursuant to IC 6-1.1-12-35. See form for filing dates and guidelines. Click here to view the form. You must have the Adobe reader to print this form. Should you need the reader, we have provided a link to obtain the free program below. 

       ADOBE ACROBAT READER

      Your deductions need to be filed in the Auditor's Office, Room 208 of the Civic Center Complex (on the second floor.) Our office hours are 8:00 AM to 4:30 PM Monday through Friday. Please call 812-435-5293 with any questions.  
      For additional information click on Tax Deductions to go to the Auditor's Website. Or click here to go to the State of Indiana's site for more information from the DLGF and to fill out any online forms.

         

      Last updated: 1/11/2017 2:33:08 PM
      http://evansville.in.gov/index.aspx?page=471