West Side Real Estate News & Notes
Property tax reduction applications due in June
SUMMIT COUNTY — Summit County residents eligible for the Homestead Exemption and the 2.5 percent tax reduction for owner-occupied properties in tax year 2014 must apply for those programs by June 2.
Homeowners can apply in person at the Summit County Fiscal Office on the third floor of the Ohio Building, 175 S. Main St. in Downtown Akron, or download an application from the fiscal officer’s website, www.fiscaloffice.summitoh.net. Applications can be found under the “Tax Programs” column. Applications must be received by the fiscal office no later than 4 p.m. June 2, according to Fiscal Office officials.
The 2.5 percent tax reduction is for owner-occupied residential property. Homeowners must own the home as of Jan. 1 of the tax year in which they apply, and it must be the homeowner’s primary place of residence. Rental properties are not eligible, according to the Fiscal Office officials.
The Homestead Exemption is available to homeowners who are at least 65 years old or who are younger than 65 and permanently and totally disabled, according to Fiscal Office officials. Eligible homeowners must own and occupy the home as their principal residence as of Jan. 1 in the year they file the application, according to Fiscal Office officials.
Under the Homestead Exemption, the first $25,000 of a property’s appraised value is exempt from taxation. Applicants must submit a driver’s license or a state-issued identification card listing their current address.
There are no income restrictions for applicants eligible for the Homestead Exemption in tax year 2013, according to Fiscal Office officials. However, beginning in 2014, Ohio House Bill 59 limits new eligible applicants and their spouses to an Ohio adjusted gross income of $30,500 or less, the Fiscal Office officials said.
Changes to the Homestead Exemption will not affect homeowners who currently are enrolled in the program or applicants eligible in tax year 2013, according to Fiscal Office officials. Homeowners already enrolled in the Homestead Exemption program will keep their exemption even if they move to a new residence, Fiscal Office officials said.
Homeowners can check to see if they are enrolled in either program by viewing their property record on the Fiscal Office website, where they can search by owner’s name, parcel number or address. They also can call the Fiscal Office Exemption Department at 330-643-2661.
Pam Lifke contributed to this report.
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