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Old 03-23-2011, 10:53 PM
 
Location: Madison, AL
296 posts, read 690,504 times
Reputation: 121

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I just learned that I need to show up in person at courthouse to file homestead exemption. I closed on my home last June; by when do I need to file? Is it too late? What paperwork do I need? Do both my wife and I need to show up?

thanks,

Marc

PS What happens if I don't file?
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Old 03-23-2011, 11:33 PM
 
1,263 posts, read 2,040,600 times
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Quote:
Originally Posted by Marc45002 View Post
I just learned that I need to show up in person at courthouse to file homestead exemption. I closed on my home last June; by when do I need to file? Is it too late? What paperwork do I need? Do both my wife and I need to show up?
Did your realtor not give you this information? He/she should have. I'm not sure what the rules are, but I know that your taxes are a lot lower. Hopefully some of the local realtors on this board will let you know.

Quote:
PS What happens if I don't file?
May God have mercy on your soul.
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Old 03-23-2011, 11:46 PM
 
482 posts, read 985,955 times
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Yep...too late. Most attorneys go over that at closing. It really sucks that yours didn't. All you have to do is bring your deed and only one person needs to show up.

Unless you're able to get something worked out....them thar taxes are gonna be double what they should be......
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Old 03-24-2011, 04:27 AM
 
282 posts, read 684,488 times
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YOU ARE NOT TOO LATE and your taxes will not double. They start high and once the homestead exemption kicks in, your taxes will reduce by about half in the following years.

As far as timing, you are not too late b/c you have to file it by the end of the fiscal year (end of Sep) to have your taxes for the next calandar year and beyond reduced. For example, I closed in November 2009 and filed in December 2009. I had to pay the normal (higher) tax for 2010. But for 2011 and beyond I get the reduced taxes. Also, my wife and I just went to the place on the first floor of the mall, not the courthouse. It took 2 seconds.
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Old 03-24-2011, 06:38 AM
 
Location: In NASA land Alabama style
513 posts, read 863,639 times
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I called the tax office when we closed on our home (We closed our home in Oct.) and spoke to a wonderful lady who explained to me I have until October to bring mine in.

Last edited by elephant08; 03-24-2011 at 07:31 AM..
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Old 03-24-2011, 06:57 AM
 
3,455 posts, read 4,788,665 times
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You can file for the exemption any time but when you file determines whether you will get it for the current year. As pyro4ik stated, you need to do it before the end of September for it to be applicable this year.

You could own an unsettled property for 20 years and then build a house on it and file for the homestead exemption any time after you move into the home. There is no limitation on when you can file.

What happens if you don't file is nothing other than you pay a lot more property taxes.
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Old 03-24-2011, 09:12 AM
 
1,351 posts, read 3,406,080 times
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Seth is right - only one spouse is required to show upEveryone else is right - as for the timing. Nothing happens, you just paid more taxes for the time you didn't homestead.Source: Been there.
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Old 03-24-2011, 12:30 PM
 
482 posts, read 985,955 times
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Quote:
Originally Posted by pyro4ik View Post
YOU ARE NOT TOO LATE and your taxes will not double. They start high and once the homestead exemption kicks in, your taxes will reduce by about half in the following years.

As far as timing, you are not too late b/c you have to file it by the end of the fiscal year (end of Sep) to have your taxes for the next calandar year and beyond reduced. For example, I closed in November 2009 and filed in December 2009. I had to pay the normal (higher) tax for 2010. But for 2011 and beyond I get the reduced taxes. Also, my wife and I just went to the place on the first floor of the mall, not the courthouse. It took 2 seconds.
I meant he was too late for 2010 taxes, not for forever .

That depends on if you buy a property that already has the homestead exemption or not (should have qualified that in my previous comment). If you buy a property that the previous owner had homestead on, you do NOT have to pay the higher taxes as long as you file the homestead before then end of the year on your first year. You carry forward the homestead and you don't have to pay one year of the higher taxes.

On the other hand, if you buy one that wasn't homesteaded (someone's second home, new construction, rental property, or some type of improved land), then yes, the first year of taxes (Alabama taxes are paid in rears) will be doubled and you will then received the break after the first year.

That's why most attorneys advise filing homestead as soon as you get your deed, which would usually be no more than 3 weeks or so. If he closed last June, he is too late to get his homestead exemption for his first year. Those taxes will be doubled. He still has time THIS YEAR to file and not pay 2 YEARS of doubled taxes.
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Old 03-25-2011, 06:57 PM
 
Location: Madison, AL
296 posts, read 690,504 times
Reputation: 121
All these answers got me scared so I emailed the County Assessor. This is her reply:

Quote:
If you owned and occupied the home on October 1, 2010 and you or your wife sign for your homestead before we close our books the first of August, all you will miss out on for the 2011 tax year is the $48.00 exemption. You can also sign for your 2012 homestead exemption at the same time which will provide residential classification as well as the $48.00 exemption.

Once you claim your homestead, it will perpetuate each year. Only if you move, change the names on the deed or make additional improvements will you need to reassess your property.
$48 sounds a lot better than $1200+. I guess since previous owner already had homestead exemption I was ok for 2010.

Thanks for scaring me into action; my wife will be at courthouse on Monday.

Marc
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Old 03-25-2011, 07:18 PM
 
Location: Madison, Alabama
956 posts, read 2,489,780 times
Reputation: 278
Your wife will thank you for throwing her to the wolves to file, lol. If you are close to Athens, have her go there...rarely a line and hey-they actually smile there
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