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hi everyone and Happy New Year this is Shahid a hill of maximum one realty Atlanta today we're talking about homestead exemption now I'm doing this video for the new year because it's 2019 a lot of people including my clients have purchased homes in 2018 and now it's a time to apply for the homestead exemption to make sure they get it in in time for it to affect their 2019 property taxes so what is a homestead exemption it's basically an exemption that the state and the county gives you that reduces your property tax liability so instead of them assessing your house at maybe a hundred thousand they may assess it at ninety thousand because you've declared declared your home as your homestead that's why it's called a homestead exemption it's pretty much your primary residence you cannot get a home homestead exemption on rental properties or investment properties but check with your local county just to double-check but for the most part that you only can get the homestead exemption on yo

Version Form Popularity Fillable & Printable
IL PTAX-342-R 2018 4.7 Satisfied (45 Votes)
IL PTAX-342-R 2015 4.8 Satisfied (140 Votes)

FAQ

  • Which ITR form should an NRI fill out for AY 2018–2019 to claim the TDS deducted by banks only?

  • Which ITR form should an NRI fill out for AY 2018–2019 for salary income?

  • Can I fill the form for the SSC CGL 2018 which will be held in June 2019 and when will the form for 2019 come out?

  • Which ITR form should an NRI fill out for AY 2018–2019 if there are two rental incomes in India other than that from interests?

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