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Friday, December 20, 2013

Homestead Exemption Reduces School Taxes

Homestead Exemption Reduces School Taxes

December 19th, 2013
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 $314 in 2013. In Coudersport, the tax cut was $174. Tax credits in Galeton were $212; Oswayo Valley, $139, Northern Potter, $197; and Port Allegany, $203; Keystone, $224.

Many homeowners in local school districts have not applied for the homestead exemption since the program was introduced. Those who may qualify and are not enrolled may receive another notice/application by mail early next year. They have until March 1, 2014, to apply for the reduction on their 2014-15 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.

4 comments :

Anonymous said...

Austin getting the most tells me that the taxes are to high in the first place!

Anonymous said...

Yay, you own a house

That means I have to pick up more of the share of your kid's education?

Why aren't these gambling profits being used to lower everyone's taxes?

Could you imagine the outrage if the tax cut went exclusively to workers in low-income inner-city housing?

Rocket Science said...

X-amount of dollars given to each town. That is divided amongst those that apply. The more that apply, the SMALLER your share.

Anonymous said...

to bad they can't do away with land/school taxes and just raise the PA sales tax. Everyone pay's that