Homestead deduction deadline nears

TERRE HAUTE, Ind. (WTHI) - Time is running out for Indiana taxpayers to confirm their homestead deductions.

Several years ago, state lawmakers required that all taxpayers confirm their primary residence in order to keep receiving the homestead deduction. The measure was meant to cut down on single taxpayers receiving the deduction several times over for multiple properties.

“You’re entitled to one homestead deduction,” said Vigo County Auditor Tim Seprodi. “Whether the primary residence is in Indiana and you have a home in Florida, you are still only entitled to one (deduction).”

Over the past three years, officials have sent out pink forms for taxpayers to fill out, confirming what property is their primary home. In order to keep receiving the homestead deduction, taxpayers must return the forms by January 1, 2013.

Those who do not return their forms or contact their county auditor could lose their deduction for the coming year, which Seprodi said could be very costly.  

“Your property taxes … if you fail to do this … would be at least 50 percent higher,” Seprodi said.

If you have not received a form to confirm your homestead deduction or if you do not remember whether you returned your form, Seprodi said you can contact your local auditor’s office to confirm.

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