Deadline is March 15th for 2015. Call the assessor today if you haven’t done this or it won’t go into effect until 2014. IT IS FREE.
In Oklahoma you have the right to homestead your personal residence. I am always amazed at how many people do not homestead their property. It is very simple and free. The following is from a letter I send to my clients who have purchased a home from me during the previous year. I hope that some of you will also find it useful.
You have until March 15, 2015 to claim it for this year. There is no need to do anything after filling out the form unless your income drastically decreases or you become over 65 years and qualify for the senior freeze.
The following are three principal reasons for the creation of homestead law
1. to protect the family unit from forced eviction from its home through the enforcement of general creditors’ claims
2. to provide protection to the widow after the death of her husband and
3. to protect the wife from ill deeds of the husband.
Currently, such homestead rights are equally available to either a single man or woman or to a husband or wife.”— Oklahoma Bar Association.
In addition, it saves you a $1000 assessed value on your property which lowers your property taxes approximately a $100 to $125 a year. Due to income guidelines you may qualify for a double homestead and save even more.
The only qualifications for filing homestead exemption is that you must be the homeowner who resides in the property on January 1. The deed must be executed on or before January 1 and filed with the County Clerks Office on or before February 1 and you must be a resident of Oklahoma.If you have been granted a homestead exemption and continue to occupy the homestead property you shall not be required to re-apply for homestead exemption. However, if you change your deed or move you will need to re-file.
If you have any questions, please feel free to contact me at 405-213-2992 or visit my website at http://www.sandiwalker.com
Also if you or someone you know is looking to make a move in the Moor, Mustang, Oklahoma City area, please have them call me.