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Tuesday, January 1, 2013

Homestead Exemption Cuts School Tax Bills

Homestead Exemption Cuts School Tax Bills

taxexemption-300x300Potter County homeowners who qualify for the “homestead exemption” receive a credit on their school taxes, reflecting a discount for owner-occupied homes. School districts are reimbursed from money the state receives from licensed gambling establishments.

Austin Area School District homeowners had a reduction of $317 in 2012, slightly higher than the previous year’s figure. In Coudersport, the tax cut was $176, almost the same as the $179 reduction in 2011. Tax credits in Galeton were $212; Oswayo Valley, $127, Northern Potter, $200; and Port Allegany, $201.

Many homeowners in local school districts have not applied for the homestead exemption. Those who may qualify will receive another notice/application by mail early this year. They have until March 1, 2013, to apply for the reduction on their 2013-14 school tax bills. An application form is available on the county website, pottercountypa.net (click on Departments and Assessment/Tax). Those who are already registered do not need to reapply. Future tax reductions will fluctuate, based on the amount of revenue the state derives from gambling operations.

School tax bills are mailed out in July. Taxpayers will receive a two-percent discount if they pay their bill by Sept. 30. A penalty is applied to payments made after Nov. 30.

1 comment :

Anonymous said...

I see that Austin got the biggest break. And people said there is nothing good about Austin.