Deductions work by reducing the amount of assessed value a taxpayer pays on a given parcel of property. Application for deductions must be completed and dated not later than December 31 annually. Taxpayers do not need to reapply for deductions annually. Reapplication should only occur if the property is sold, the title is changed or the home is refinanced (mortgage deduction only).
Deductions applied for prior to the annual deadlines will be applied to the next year’s tax bill. For example, a homeowner who completes and dates an application for a deduction by December 31, 2020 and files the application on or before January 5, 2021 will see the deduction applied to his 2020 pay 2021 tax bill.
To learn about the state’s most common deductions and the associated eligibility requirements of each visit: