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Home Foreclosures: California

Cal. Const. art. XIII, § 3(k); Cal. Rev. & Tax. Code §§ 205.1, 205.5, 218, 20501 to 20564, 20581 to 20622 (West)

Homestead: $7000 of the full value of a resident’s principal residence is exempt from taxation. Cal. Const. art. XIII, § 3(k); Cal. Rev. & Tax. Code § 218.

Home Foreclosures: Delaware

Del. Code Ann. tit. 9, §§ 8131 to 8141, 8363

Elder: Elder (sixty-five and over) homeowners with income of not more than $3000 per year are entitled to an exemption from taxation of $5000 of assessed value. (Note: statute states it does not apply to property taxes levied by a municipality.) This exemption also provides relief from mobile home taxes.

Home Foreclosures: District of Columbia

D.C. Code §§ 47-849 to 47-850.04, 47-863

General: For single family residential property and property with not more than five dwelling units, which includes the principal dwelling place of the owner, $64,000 (increased annually based on cost-of-living adjustments) ($67,500 as of October 1, 2012) is deducted from the estimated market value in calculating tax. § 47-850(a).

Home Foreclosures: Florida

Fla. Stat. §§ 196.001 to 196.32

Homesteads: Homesteads exempted from all taxation up to a certain amount in assessed value. § 196.031(1)(a). Additional exemption available under § 196.031(1)(b), (7). Residents eligible for homestead exemptions may also be eligible to defer property taxes on their residence. §§ 197.2421 to 197.252.

Elder: Amount of assessed value eligible for homestead exemption expanded for residents sixty-five or older. §§ 196.031, 196.075.

Home Foreclosures: Georgia

Ga. Code Ann. §§ 48-5-40 to 48-5-56

Homestead: Homestead exemption allowed up to $2000 in assessed value. § 48-5-44.

Elder: There are a number of provisions for homestead exemptions for elders (§§ 48-5-47, 48-5-47.1, 48-5-48.3 (effective Jan. 1, 2007), 48-5-52), as well as deferrals. §§ 48-5-72, 48-5-72.1.

Disabled: Homestead exemptions for qualified disabled veterans and the unremarried surviving spouse or minor children of disabled veterans. § 48-5-48.

Home Foreclosures: Guam

Guam Code Ann. tit. 11, §§ 24110, 24402 to 24404

Elder: Elder persons (fifty-five years or older) receive 80% abatement of tax on principal residence owned for five consecutive years or more. Property valuation frozen at amount assessed in first year of eligibility. §§ 24110, 24113.

Home Foreclosures: Hawaii

Haw. Rev. Stat. § 235-55.7

General: Real property taxation is done by the several counties. See 2016 Hawaii Laws, Act 52, section 7, which repealed Chapter 246.

Miscellaneous: Eligible low-income renters are eligible for an income tax credit. § 235-55.7.

Home Foreclosures: Idaho

Idaho Code §§ 63-602AA, 63-602G, 63-701; §§ 55-1001, 55-1003

Homestead: The dwelling house or mobile home in which the owner resides or intends to reside, or unimproved land regardless of size and owned with the intent of placing such a residence thereon, is exempt from taxation but the exemption amount shall not exceed $175,000. §§ 55-1001, 55-1003.

Home Foreclosures: Indiana

Ind. Code §§ 6-1.1-12-1 to 6-1.1-12-42

Homestead: Eligible for standard deduction from assessed value equal to lesser of $45,000 or 60% of assessed value of real property, mobile home, or manufactured home. Only one standard deduction per homestead, even if more than one person is entitled to claim the property as homestead. The homestead continues if property is leased while claimant is absent serving in the military, provided claimant has lived in the property within the past ten years. § 6-1.1-12-37.

Home Foreclosures: Iowa

Iowa Code §§ 425.1 to 425.40

Homestead: Homeowners are entitled to a credit against the actual levy (tax) on the first $4850 of actual value for the homestead. § 425.1.

Disabled Veterans and Their Surviving Spouses or Children: Eligible for credit in the entire amount of tax levied against homestead. § 425.15.

Home Foreclosures: Kansas

Kan. Stat. Ann. §§ 79-4501 to 79-4531

Homestead: Persons fifty-five or older, disabled, disabled veteran, unremarried surviving spouse of disabled veteran, surviving spouse of active duty military personnel who died in the line of duty, or persons having dependent children under the age of eighteen are entitled to tax refund (on income taxes) for property taxes paid according to the schedule contained in § 79-4508 to be adjusted for cost-of living increases annually. § 79-4502. The maximum refund is $700. § 79-4509.

Home Foreclosures: Kentucky

Ky. Rev. Stat. Ann. § 132.810 (West)

Elder and Disabled: Homeowners age sixty-five or older, or persons who are totally disabled are entitled to a $6500 exemption on their personal residence, based on purchasing power of 1972 dollar. § 132.810. Per statute, amount of exemption is to be adjusted for increases in the cost-of-living.

Home Foreclosures: Louisiana

La. Stat. Ann. § 47:1703

Homestead: Pursuant to Section 20 of Article VII of the La. Constitution, $7500 of the assessed value of a homestead is exempt.

Home Foreclosures: Maryland

Md. Code Ann., Tax-Prop. §§ 9-101, 9-104, 9-105 (West)

Elder and Disabled Veterans: Persons over age seventy and disabled veterans are entitled to a credit against their property tax, the amount of which is a percentage of their income. § 9-104. The percentage is graduated by income level, see § 9-104(g)(2) for table of percentages. No credits for property owners with net worth greater than $200,000 or gross income exceeding $60,000. Surviving spouse of disabled veteran is entitled to credit up until spouse remarries.

Home Foreclosures: Michigan

Mich. Comp. Laws §§ 211.1 to 211.7ff

Low-Income: Homestead is eligible for exemption from taxation in whole or in part, based on guidelines developed by local assessing unit. § 211.7u. Local guidelines may not set income limitations below the federal poverty line.

Home Foreclosures: Mississippi

Miss. Code Ann. §§ 27-33-3, 27-33-67 to 27-33-79

Homestead: Taxpayers under sixty-five are entitled to an exemption on their homestead based on assessed value, up to a maximum exemption of $300 for those counties which have completed their update of ad valorem taxation, and $240 for counties without completed updates.

Home Foreclosures: Missouri

Mo. Rev. Stat. §§ 135.010 to 135.035, 135.090

Elder and Disabled: Persons sixty-five and over, disabled, and one hundred percent disabled veterans with income of $27,500 or less, or $30,000 or less if homestead is owned and occupied for the entire year, are entitled to a tax credit for income taxes based on the amount by which their total property tax exceeds a certain percentage of their income. Refer to tables at § 135.030 for percentages and credit amounts. Eligibility described in §§ 135.010(1), 135.010(2).

Home Foreclosures: Montana

Mont. Code Ann. §§ 15-6-305, 15-6-311

Low-Income Deceased and Disabled Veterans: Exemption for unmarried surviving spouse of veteran killed on duty or veteran with 100% service-connected disability. Percentage of exempt amount homeowner is entitled to claim is based on income. Mont. Code Ann § 15-6-311.

Low-Income Household: For qualifying household, the first $200,000 of appraised value is taxed at percentage rate tied to income. Mont. Code Ann § 15-6-305.