Posted By: The Reporter September 16, 2022
Submitted by Hamilton County Auditor’s Office
If you are unaware, the Auditor’s Office maintains property tax deductions, transfers, GIS mapping, and much more. Taxpayers visit our office daily to file their property tax deductions.
One of the most filed deductions is the Mortgage Deduction. Reducing the taxable value of the home by $3,000, this deduction is for Indiana residents who maintain a mortgage on their home.
On March 21, 2022, Governor Eric J. Holcomb signed into law House Enrolled Act 1260-2022 (HEA 1260). Section 12 of HEA 1260 repeals the mortgage deduction in its entirety, effective Jan. 1, 2023. This means that beginning Jan. 1, 2023, individuals will no longer be able to apply for this property tax deduction, and county auditors will no longer apply the mortgage deduction to property tax bills beginning with the 2023 pay 2024 cycle.
County Auditor Robin M. Mills wants you to know it’s not all bad news.
“Yes, the General Assembly has repealed the mortgage deduction; however, has added $3,000 to the homestead deduction, effective for assessment dates after Dec. 31, 2022.”
What this means for our taxpayers is that the homestead deduction amount for 2023 Pay 2024 will be the lesser of:
If a person or married couple timely files an application for the homestead and meets eligibility requirements, the legislature added $3,000 to the amount. Now instead of $45,000 for a homestead deduction, owners will receive $48,000. Taxpayers will see this change in their January 2023 assessments payable in 2024. The supplemental homestead deduction remains the same in Ind. Code 6-1.1-12-37.5.
Outlined below are the various deductions offered, along with their qualifications. Certain deductions can be filed via our website, and all deductions can be filed in person at the Historic Courthouse. There is no cost to file a deduction, it only takes about five to 10 minutes, and no appointment is necessary. All applicable deductions must be filed by Dec. 31 to take effect on the following year’s tax bill.
Please visit the Hamilton County Facebook page where we maintain informative articles. Our county website, hamiltoncounty.in.gov, hosts a vast amount of revealing information. To file online, choose ‘Important Information,’ then under ‘Apply For’ select ‘Property Tax Deductions and Credits.’ To file your property tax deductions online, select the desired deduction.
We are located in the Historic Courthouse in downtown Noblesville, in the southwest corner of the first floor. We are open Monday through Friday from 8 a.m. to 4:30 p.m., excluding government holidays. You may reach us via phone at (317) 770-4412.
Your email address will not be published.
This site uses Akismet to reduce spam. Learn how your comment data is processed.