Home Buying in 47362>Question Details

Daneal55, Home Buyer in New Castle, IN

Just wondering why some homes have tax exemptions, while others do not?

Asked by Daneal55, New Castle, IN Fri Aug 31, 2012

Help the community by answering this question:


If a property is owned by an individual and they live there, the state offers a homestead exception. If it is their primary property and they have a mortgage they also maybe eligible for a mortgage exception.
Should they pay the house off, the mortgage exception will drop off. If the property is owned by a bank , they do not qualify for those exemptions so it would show no exemption. If the property is not a person's primary home, such as an investment property or vacation home, Normally there are no exceptions available and they are taxed at a higher rate. Please call me if you have further questions.
Matt Huffman 765-524-4985 or MattH@crossroadsre.com
0 votes Thank Flag Link Tue Sep 4, 2012
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