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Wednesday, February 9, 2011

Deadline For School Tax Break From Gambling Fund Approaches

Application Deadline Nearing For School Tax Reduction

homesteadexemptTime is running out for homeowners in Potter County who want to qualify for reduced school taxes. They have until March 1 to apply for the “homestead exemption,” which requires school districts to cut real estate taxes on owner-occupied homes. In short, if you own the property in which you live, you are likely eligible for the tax reduction. Rental units, unoccupied homes and other real estate do not qualify.

Homeowners who were already approved for the homestead exemption for the 2009 and/or 2010 school tax year do not have to reapply. Applications for property owners who have not yet qualified for the exemption are available on the county website here (see Departments/Tax Assessment), or by contacting the Assessment Office in the Gunzburger Building, 274-0517

Taxpayers who qualify for the homestead exemption will see a credit on their school district real estate tax bill in the fall. The tax reduction is significant. For instance, in the Coudersport Area School District, the taxes were reduced by $188 last year for each of the 1,339 owner-occupied homes registered for the program. The exemption for the 409 registered homeowners in Austin Area School District was $324. School districts are reimbursed the amount of revenue lost through these exemptions from gambling revenues at state-licensed casinos.

Homeowners are encouraged to contact their school district if they have questions. Those with further questions should call the Assessment Office at 274-0517.


Anonymous said...

Home owners are on the tax rolls all ready and the county should automatically reduce each and every land/home owners school tax amount and reimburse the schools from these gambling revenues!

I thought the gambling revenue was to automatically reduce the school tax amounts for everyone and help the senior citizens as well?

Anonymous said...

Take it from me a school board member the law requires that the homeowner apply. Majority of the homeowners in our district have applied. We didn't have to but we called some of them to remind them of this. The more who apply, the less the exemption, so if everybody applies, the exemption will be a lot lower.