Learn All About Indiana's Tax Credits
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 Published On Apr 5, 2024

🏠 Learn All About Indiana's Tax Credits

Welcome back to Living on the Ohio River! Today, let's dive into Indiana's property tax deductions.

1. Homestead Deduction: Up to 60% of assessed value or $48,000, whichever is lower.
2. Supplemental Homestead Deduction: Varies based on home value, up to 35% or 25% of assessed value.
3. Renewable Energy Devices: Deductions for solar, wind, hydroelectric, and geothermal systems.
4. Heritage Barn: Deduct 100% of the assessed value for qualifying barns built before 1950.
5. . Over 65 Years of Age Deduction: Up to 50% of the assessed value, or $14,000 for those over 65.
6. Breaker Credit: Limits property tax increase to 2% for eligible individuals.
7. Fertilizer and Pesticide Storage: Deductions for Compliance with State Regulations.
8. Blind or Disabled Deduction: $12,480 deduction for eligible individuals.
9. Veterans Deductions: Various deductions for disabled veterans, surviving spouses, and donated homesteads.
10. Surviving Spouse of a World War I Veteran: $18,720 deduction for eligible surviving spouses.

These deductions can significantly reduce your property taxes in Indiana. If you have any questions or need assistance, feel free to contact us at 812-686-3268. Happy house hunting! 🏡

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00:00 Introduction
01:31 Homestead Deduction
02:10 Supplemental Homestead Deduction
02:52 Renewable Energy Devices Deduction
03:53 Heritage Barn Deduction
04:37 Age-Based Deductions
05:38 Circuit Breaker Credit:
06:06 Fertilizer and Pesticide Storage Deduction
06:39 Blind or Disabled Deduction
06:59 Veterans Deductions
08:13 Surviving Spouse of a World War I Veteran
08:39 Conclusion

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