This exemption continues for up to four years from the completion of the improvement. Exemption is up to $75,000 of the value of the home improvement if the improvement resulted in an assessment increase. This exemption is available to qualified homeowners who have made improvements to their principal dwelling place. The amount of the exemption is equal to the current year’s assessment over the 1977 assessment, with a maximum of $6,000. Applications must be made by July 1 of each tax year. This exemption is based on occupancy of January 1st of the tax year and is administrated by the Chief County Assessment Office. General Homestead Exemption - Leasehold (PDF)Īn exemption is available to single-family, residential property if the lessee has a leasehold interest in the property and is responsible for paying the real estate taxes per his/her lease agreement. The amount of exemption is equal to the current year’s assessment over the 1977 assessment, with a maximum of $6,000. This exemption is available for residential property that is occupied by the owner(s) as their principal dwelling place. General Homestead Exemption (Owner-Occupied Exemption)
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