Property taxpayers have just under two months remaining to file the homestead verification form to continue receiving the benefit of the homestead deduction on their property tax bill.

The pink or rose-colored homestead verification form was mailed with property tax bills in 2010, 2011, and 2012 and must be completed at least once prior to the Jan. 1, 2013 deadline.

“Completing the form confirms that the individual is using the property as his or her permanent home, an eligibility requirement of the deduction,” Department of Local Government Finance Commissioner Brian Bailey said.

Beginning as early as January 2013, county auditors will begin sending out letters to any taxpayer receiving the homestead deduction who had not filed the homestead verification form on or before Dec. 31, 2012. These will be notifications that the taxpayer’s homestead deduction is subject to termination.

Under Indiana law, individuals or married couples claiming the deduction must complete this form to verify their eligibility and provide identification numbers (the last five digits of both the driver’s license and social security numbers), which will be used to populate a secure homestead database and prevent homestead fraud.

“The homestead deduction gives a qualifying individual or couple a substantial property tax benefit by lowering their property tax obligation,” Commissioner Bailey said. “When individuals who do not qualify receive this benefit, it costs taxpayers more.”

The homestead deduction allows homeowners who use a property as a primary residence to qualify for a reduction of the lesser of 60 percent of the property’s assessed value or forty-five thousand dollars ($45,000), plus up to an additional 35 percent of the remaining assessed value through the supplemental homestead deduction.

Specific questions about property tax deduction eligibility or the homestead verification form should be directed to the county auditor.

The Porter County Auditor’s Office is located at 155 Indiana Ave., Valparaiso, in Room 204. It can be reached at (219)465-3445 or at Auditor@porterco.org

Your homestead deduction can be removed beginning with 2012-pay-2013 property tax bills if you do not return a completed form to the auditor on or before Dec. 31.

Iinformation and frequently asked questions are available on the Indiana Department of Local Government Finance’s website at http://www.in.gov/dlgf/8455.htm

Posted 11/16/2012