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Seniors Deadline Quickly Approaching

Posted By admin on January 1, 2010

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December 31 is the deadline for qualified senior to file for two percent cap on his or her property taxes.   This credit is for seniors in Lake and Porter Counties in Indiana; however, the auditor’s offices in both counties are reporting low or limited interest by seniors.  I am sure this is because most seniors may not know about the need to apply for the credit. 

Under House Bill 1001, seniors will receive a tax credit if his or her adjusted gross income is no more than $30,000 or combined income of $40,000.  In addition, the gross assessed value of the home must be less than $160,000.

The Bill ensures that the qualified homeowner will not receive a property tax increase of more than two percent.  It is important to note that this credit is in addition to statewide property tax caps of 1.5 percent and 1 percent that is scheduled to take effect in 2009.

For example, if the assessed value is $100,000, the statewide cap for next year will result in a tax bill of $1,500.   The senior will enjoy a cap of two percent on his or her assessed value especially if the assessed value increases from one year to the next.

So seniors please apply if you qualify.

Originally posted 2008-12-15 05:07:16. Republished by Blog Post Promoter


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admin

Serena Brown is broker and owner of Taylor-Brown Real Estate. She is the author of this blog. She has also co-authored a book entitled Should I Short Sale My Home. She has authored a e-book How to Sell My Home. She will be authoring a book on real estate investing by April of 2010 and several reports. She has dual degrees in Business Administration and Electronic Engineering Technology. She prides herself on being up to date on all trends, news, and education related to real estate to include short sale, loan modification, etc. She also makes sure her clients are abreast of how these changes will affect them financial. Therefore, stay tuned for great information in 2010.

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5 Responses to “Seniors Deadline Quickly Approaching”


  1. [...] unknown wrote an interesting post today onTaylor-Brown Real Estate Talks » Blog Archive » Seniors Deadline …Here’s a quick excerptThis credit is for seniors in Lake and Porter Counties in Indiana; however, the auditor’s offices in both counties are reporting low or limited interest by seniors. I am sure this is because most seniors may not know about the need to … [...]


  2. [...] unknown wrote an interesting post today onTaylor-Brown Real Estate Talks » Blog Archive » Seniors Deadline …Here’s a quick excerptThe senior will enjoy a cap of two percent on his or her assessed value especially if the assessed value increases from one year to the next. So seniors please apply if you qualify. Category: real estate, taxes | Tags: indiana property … [...]


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"Welcome to Taylor-Brown Real Estate Talks"

Taylor-Brown Real Estate Talks' goal is to empower the consumer with education about real estate, insurance, and mortgage trends, news, terms, etc., so that the consumer can achieve financial wealth through listing and selling real estate.


About the author

admin

Serena Brown is broker and owner of Taylor-Brown Real Estate. She is the author of this blog. She has also co-authored a book entitled Should I Short Sale My Home. She has authored a e-book How to Sell My Home. She will be authoring a book on real estate investing by April of 2010 and several reports. She has dual degrees in Business Administration and Electronic Engineering Technology. She prides herself on being up to date on all trends, news, and education related to real estate to include short sale, loan modification, etc. She also makes sure her clients are abreast of how these changes will affect them financial. Therefore, stay tuned for great information in 2010.

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