Wednesday, March 15, 2023 - The Sequoyah County Assessor's Office mailed out change of value notices on March 13, 2023. This is for all real estate properties that will have an increase in overall property value for the 2023 tax year.
The assessor’s office would like to note that if you received a change of value notice, this will extend the filing date 30 days for all exemptions to April 15, 2023.
There are many key points when it comes to exemptions and eligibility. The explanation below has been provided by the assessor's office.
Homestead: This must be your primary residence, and you must occupy that residence as of January 1, 2023.
If your notice has a "Y" in the Homestead box, then you currently have a homestead on your account and no action is needed on your part.
If there is an "N" in the homestead box, then you currently do not have a homestead and can come to the assessor's office to file for the exemption. This exemption can save residents between $70 and $100 on their yearly property taxes, depending on the school district.
Double Homestead: Must be eligible for Homestead and all income in the household is less than $25,000 (proof of income is required). This exemption can save residents an additional $70–$100 on their yearly property taxes, depending on their school district.
Property Valuation Limitation: Must be eligible for homestead, be 65 years of age at the time of filing, and all household income has to be less than $62,600 (proof of income is required).
If you qualify this exemption will "freeze" the value of the property that your taxes are assessed on. Therefore, your property value will be "frozen" at the current year’s taxable value and will not grow by 3–5% to meet the full market value of your property. This is a yearly tax break for seniors and does not affect the overall market value of your property.
If you have any questions, please feel free to contact the Sequoyah County Assessor's Office at 918-775-2062.
Lindsie Dyer, Staff Writer
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