Several deductions are available for property owners to apply for to reduce payable taxes. The following list identifies some of those deductions and filing deadlines. If you think you might qualify for any of the exemptions or deductions, you may contact the Auditor's Office at (260) 668-1000 ext 1200 for further information.

The property must be recorded by March 1st, and application for deduction made by May 10th of the assessment year, with the county Auditor where the property is located.

These Deductions are for Indiana Residents ONLY with the exception of disabled veterans.

HOMESTEAD CREDIT

IC 6-1.1-20.9-1 THROUGH 6. Property must be in owners name and be the principal place of resident as of March 1st. Deduction must be filed by May 10th. This is a one time filing unless status changes. Auditor is to be notified within sixty days of any change. The standard Deduction reduces the value by 35,000 with an additional percentage taken off the net tax.

MORTGAGE OR RECORDED CONTRACT

IC 6-1.1-12-1 THROUGH 8. If you have a recorded mortgage or contract by March 1, the filing deadline for the deduction is May 10th. This is a one time filing except when the mortgage has been re-financed. The deduction is either 3,000 off the value, the balance of the mortgage on March 1, or 1/2 of the value of the property for that year.

AGE 65 DEDUCTION

IC 6-1.1-12-9 THROUGH 10.1 If you are 65 or older before 12/31, your adjusted gross income on your Federal Income Tax Return is less than $25,000, and the value of all real property is less than $144,000 you may apply by May 10th for an age deduction. You must bring a copy of your Federal Income Tax return when applying. The taxable value of the property is reduced by 6,000.

DISABLED VETERAN

IC 6-1.1-12-13 THROUGH 15. An individual who served in the Military forces who received an honorable discharge and is at least 10% disabled is eligible to file by May 10th for real property, by March 2 for personal property. The disability must be evidenced by a pension certificate, pension check or award stating the disability.

BLIND OR DISABLED DEDUCTION

IC 6-1.1-12-11 & 12. A blind or disabled person may receive $6,000 deduction off the value of their property used and occupied as their residence if the persons gross income is less than $17,000 in the preceding year. If the property is owned as of March 1st, the deduction must be filed by May 10th. It must be accompanied by a written statement fro a physician licensed in the state of Indiana stating the disability, determined by the same standards used the Social Security Administration.

TAX EXEMPT PROPERTY

IC 6-1.1-10-16. This deduction must be applied for by May 15th every other year. The next year to file will be the year 2003. However, an application must be filed in any other year if the property was not exempted in the immediately preceding year. The filing must list all real estate and improvements and/or personal property.