Indianapolis, IN · Member since 2017 · 2 posts · 2 votes
In Indianapolis there is a 1% cap on property tax on your primary residence, they call it a homestead exemption. Is there a way to obtain the homestead exemption even though its not my primary residence? If it is not, will my account be able to file it with my taxes as a deduction. Any help would be appreciated. I already called the County auditor office but did not get a clear answer.
@Eric Mattisz , Only primary residence qualifies for the Homestead Exemption.
If your other property is a rental property, taxes are deducted as expenses against your rental income
if your other property is a second home and is not rented, the taxes are still deductible ( at least for this year) as an itemized deduction. Next year it might be capped based on new tax reform.
@Eric Mattisz, also be sure to monitor the assessed value every year and challenge it if needed. No need to pay extra if you can justify a lower assessment.