MARGIE TRAX PAGE
Star Beacon
July 29, 2007 12:23 pm
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GENEVA TOWNSHIP - - Tony Long knows the anxiety associated with tax season: the preparation, the tax loopholes, the fear of expensive errors.
As Geneva Township's fiscal officer, Long is working to ease the tax-troubled minds and the tax-burdened pockets of local senior citizens by holding an informational meeting about Ohio's Homestead Exemption.
"The process to get the exemption is pretty easy, but some people might have questions or be a little nervous about filing for a tax exemption," Long said. "The more information they have, the more comfortable they may feel about the process."
Regardless of income, Ohio residents 65 years and older, and those who are totally disabled, are eligible for a $25,000 real-estate tax exemption under the Homestead Exemption for Real Property.
Where the state used to cap exemptions by tiered-income brackets, this expanded benefit increases the number of eligible homeowners from 220,000 to 750,000, according to the Ohio Department of Taxation.
The new exemption now allows qualifying homeowners to exempt the first $25,000 of the market value of their home from all local property taxes.
To qualify for the exemption, a resident must be 65 years or older by Dec. 31, 2007, or be permanently disabled as of Jan. 1, 2007, or be a surviving spouse and own and have occupied a principal place of residence as of Jan. 1, 2007. If the property is listed under two names, only one owner needs to be 65 years or older.
Long said the savings for local seniors can be significant. For example, a home with a market value of $100,000 would be billed as though it were worth $75,000, saving the typical homeowner about $400 a year.
"But some seniors are kind of leery to file for exemptions. Maybe they think it will be complicated. But this exemption is a one-page form, and it takes about five minutes to complete," Long said.
Officials will be on hand to help residents obtain their exemption, which must be filed by Oct. 1. Long said Ashtabula County officials expect to see 10,000 exemption forms from local residents.
The informational meeting is 6:30 to 9 p.m. Thursday at Geneva Township Hall. Bring proof of age, like a birth certificate or driver's license. For more information, call the township office (440 466-5599).
For more information on the Homestead Exemption for Real Property, or to obtain the necessary forms for exemption, visit www.tax.ohio.gov.
Star Beacon Print Edition: 7/26/2007
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