(Stillwater, Okla) – Payne County Assessor James Cowan wants to advise property owners of the upcoming deadline to apply for Homestead exemption, and Double Homestead exemption for the 2012 tax rolls. These exemptions can help lower property owner’s real estate tax.
Cowan stated that, “The Payne County Assessor’s office no longer mails Homestead exemption forms to every taxpayer”. This exemption is permanent as long as the property owner occupies the home.
“Property owners who have purchased a home in 2011, or have never applied for homestead on their current home, need to apply for Homestead exemption. The property owner must have been living in their residence as of January 1, of the current year. Property owners who wish to apply must complete an application form for the Homestead exemption and return to the Payne County Assessor’s office no later than March 15, 2012. Once the Homestead exemption is granted they are not required to re-apply on a yearly basis”, said Cowan
Cowan also wants to advise property owners of the qualifications for Double Homestead exemption.” If the taxpayer’s annual gross household income from all sources, received by all persons occupying the same household is $20,000 OR LESS they would qualify for the additional exemption” Cowan said. The property owner must fill out both parts of the short application form, provide proof of annual income; and return to the Payne County Assessor’s office by March 15th.
Property owners are required by law to file for the Double Homestead exemption annually. The exemption will remain in place as long as their income is $20,000 OR LESS, until they reach the age of 65.
The application for Homestead exemption, and Double Homestead exemption, can be found at https://www.tax.ok.gov/advalforms1.html form 921 for Homestead exemption, form 994 for Double Homestead, or by coming to the Payne County Assessor’s office. The form must be received by mail or in person no later than March 15th, 2012.
For questions, or more information on the Homestead exemption, Double Homestead exemption, contact the Payne County Assessor’s office at 405-747-8300. The Payne County Assessor’s office is located in the County Administration Building, at 315 W. 6th, Suite 102, Stillwater.