Congratulations on your home purchase in 2019! Have you filed your application for a homestead exemption? In certain states, homeowners can submit an application to protect the value of their home from creditors, property taxes and the surviving spouse in the event the other homeowner spouse dies. As well, it can save you from a certain amount of taxes that you owe on your property that can equal a significant amount of money.
The house must be the principal residence in order to declare a homestead. Certain restrictions apply based on the state you live in. As well, the deadline to apply varies by state and some are as early as March 1st.
Angel Oak Home Loans is proud to continue to serve our clients beyond the closing date! This season can be busy and we want to make sure you don’t forget an exemption that can save you tax dollars.