In 2009, the Indiana legislature passed a bill that required EVERY property owner to file a new form for verification of homestead credit eligibility. The form should have been sent to you recently by your county auditor. It is a pink sheet that was included with the property tax statement/bill that recently came to your home.
Many taxpayers have the mortgage company pay the taxes out of the escrow, so the taxpayer ignores these type of notices. We want to make sure everyone we know files the required form to keep the homestead credit in place. Even if you filed the form when you purchased your home, you MUST file this new verification form. If you don’t file the form before the deadline (May 5, 2010) the homestead credit will be removed from your property. The homestead credit reduces your taxable property value by $45,000. Tax rates vary by area, but a reasonable estimate would be that not filing would result in your property taxes increasing by approximately $1,250 per year.
If you have the pink form, you should fill it in, fax/mail/drop off to your County Auditor’s office. The verification can be completed online at www.indiana-homestead.com. This site will also have an explanation of why the form is needed. You will need to know your state parcel number, the last 5 digits of your social security number and the last 5 digits of your drivers license number. If you are married, you will need this info for both people.
Don’t delay–May 5 is almost here!