Don’t pay too much property tax! There are big savings to be had if you bought a new house or refinanced a mortgage in 2020.

If you bought a home this year or refinanced your mortgage, property tax deductions must be filed with your county auditor by December 31. Homestead and mortgage deductions can save you nearly 50% on your annual tax bill! 

When you buy a home, the title company usually agrees to file the homestead deduction for you, but I always recommend double-checking that it was accepted and posted by the county auditor before the end of the year since this is such a huge savings.  The mortgage deduction is not always filed for you by the title company (it is considerably less $$$, but it is still money saved), so you will need to check on that as well.

Deductions are also available for veterans, seniors, geothermal systems, and more. Check out this Indiana website for details. You do not need to fill out forms before going, simply take your whole file from closing to your county auditor’s office and they will take out the papers they need and give you their forms you need to complete. Very simple.

You also want to make sure your exemptions are still on your property if you refinanced this year.

Here is a contact list for all the Central Indiana auditors:

Call me if you have any questions!