Residential property owners in Howard County are getting a one-time increase in the Homestead Credit on their property taxes due this year.
Last year, Indiana sent the county $1.33 million as a result of a bookkeeping error.
Auditor Martha Lake said the funds didn’t come in time to be included in the 2012 tax bills, so were added to the bills for this year.
Lake said with approximately 23,000 residential properties receiving the Homestead Credit through the Local Option Income Tax. The one time savings will average $58 per homeowner.
She said last year the LOIT provided $6.5 million in property tax relief for local residential property owners and for this year the amount will be $7.8 million.
Howard County Assessor Jamie Shepherd said for most property owners in Howard County, there will be little change in their tax bills.
Howard County Assessor Jamie Shepherd said for most property owners in Howard County, there will be little change in their tax bills.
“The people in the areas that were annexed into Kokomo will see the biggest increase,” said Shepherd.
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