Attention Homeowners!

December 31 is Deadline for Filing Deductions to be Applied to Your Property Taxes

Mortgage Deduction

If you are buying property on a recorded mortgage or a recorded contract, and you are a resident of the State of Indiana, you could qualify for a mortgage deduction (IC 6-1.1-12.1). The value of the deduction may not exceed the amount of the indebtedness.

In order for these deductions to be applied to your property taxes, you must be the owner of the property and filed for the deduction on or before December 31 in order for the deductions to be credited to the taxes payable the following year. The deduction is either one half of your assessed valuation or $3,000, whichever is less. A person owning more than one property may not receive mortgage deductions totaling more than $3,000. If you refinance or have a deed change at any time, you will need to re-file these deductions.

For more information, or to file online, go to: http://www.indy.gov/eGov/County/Auditor/Services/Online/Pages/AuditorMortgageDeduction.aspx

The Mortgage Deduction is one of many deductions. To learn more about the various deductions available to residential property owners, check out: http://www.indy.gov/eGov/County/Auditor/Services/Pages/deduction_guide.aspx

The Marion County Auditor's Office encourages homeowners to complete the application online, but it may also be completed in person or by mail. The Auditor's Real Estate office is located in the City-County Building, 200 E. Washington St., Suite 841. The office is open from 8:00 A.M. to 4:30 P.M., Monday through Friday. You can reach a customer service representative by calling (317) 327-4646.