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January 21, 2014

The scoop about homestead exemptions

PRYOR, OK — Lisa Melchior

Mayes County Assessor

How do I know if I qualify for homestead exemption?

You must own the land your home sits on as of Jan.1.  The deed must be dated by Dec. 31, of the previous year, and filed with the County Clerk’s office by Jan. 31 of the year for which you are filing. It must be your principal residence as of Jan. 1.  

How many properties can I get homestead exemption on?

You are allowed only one exemption on your primary residence.

If I temporarily move away or enter a nursing home, will I lose my homestead exemption?

No.  If you do not establish another principal residence and you intend to return, you may keep your existing homestead exemption.

Do I need to file for this exemption every year?

No. Once you file for homestead exemption it stays on your account until you move or sell the property. If and when you move to a different residence, you would want to file for an initial exemption on that property.  

How do I qualify for the Additional Homestead Exemption?

The additional homestead exemption is based on annual gross household income.   If your total gross household income is under $20,000, you may apply for an additional exemption between Jan. 1 and March 15 of each year. Once you become 65 years old, with qualifying income, the additional homestead will become permanent.   

When do I need to file for Homestead Exemption?

You may file any time of the year for Homestead Exemption, but it must be filed on or before March 15 to be effective for that tax year.

How much money does this exemption save me?

The homestead exemption is a $1,000 deduction from the gross assessed value of your home. For example, if your residence is being taxed at a value of $100,000, then your assessed value would be $11,200 (11.2 percent). Then subtract $1,000 from the $11,200 for a total assessed of $10,200. It will save you the value of the current levy in your school district. In Pryor, it would have saved you $84.94 for 2013, in Locust Grove it would have saved you $95.50, and in Spavinaw it would have saved you $68.47.

How do I file for Homestead Exemption?

You can download a form 921 from our website www.mayes.ok

countyassessors.org under “download forms” or you can request a form from our office by visiting in person or by telephone 918-825-0625.

How do I know if I have filed for this exemption?

You can check your last bill from the Mayes County Treasurer’s office. It will show a 1000 under the exemptions if you have or visit www.mayes.okcountyassessors.org and look up your real estate record by name, click on “details” and look for exemptions under the “other information” section.  Or, call 918-825-0625.

 

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