Posted by Banker on September 30, 2004 at 13:03:38:
I called the Auditor, and I found out the Homestead can apply in this situation. Seems like deeding the property this way is a pretty slick estate planning tool.
Indiana Homestead & the Life Estate Owner - Posted by Banker
Posted by Banker on September 27, 2004 at 22:50:44:
Parents deeding themselves a life estate interest and the remaining interest of their primary residence to their children seems to be a good estate planning tool. But are there downfalls? e.g. Can the parents still claim a homestead exemption on their property taxes in the State of Indiana?
Re: Indiana Homestead EXEMPTION REQUIREMENTS - Posted by SHIRLEY A POWELL
Posted by SHIRLEY A POWELL on April 25, 2007 at 16:21:51:
WHAT ARE THE REQUIREMENTS, FOR FILING HOMESTEAD EXEMPTION, IN THE STATE OF INDIANA?
Ask the Indiana Tax Collector… (nt) - Posted by Bill H
Posted by Bill H on September 28, 2004 at 22:47:33:
nt
Re: Indiana Homestead EXEMPTION REQUIREMENTS - Posted by Banker
Posted by Banker on April 26, 2007 at 09:06:04:
You have to be a resident of the great State of Indiana, and the property must be your own residence. I believe that’s it. You must own (and I believe file too) by March 1st of the tax year, so if you buy a property, you should file as soon as the deed is recorded. The max amount has been $35,000 I know in the past, so it’s a big deal.