Archive for December 10th, 2017

‘Homestead Exemption’ Can Reduce School Tax Bills

December 10th, 2017 Comments off

taxexemption-300x300Potter County homeowners who qualify for the “homestead exemption” receive a credit on their school taxes, reflecting a discount for owner-occupied homes. School districts are reimbursed from money the state receives from licensed gambling establishments.

Austin Area School District homeowners had a reduction of $330 in 2017. In Coudersport, the tax cut was $179. Tax credits in Galeton were $218; Oswayo Valley, $154, Northern Potter, $210; Port Allegany, $210; Keystone, $229.

Many homeowners in local school districts have not applied for the homestead exemption since the program was introduced. Those who may qualify and are not enrolled should will soon receive another notice/application by mail. They have until March 1, 2018, to apply for the reduction on their 2019-19 school tax bills.

An application form is available on the county website, (click on Departments and Assessment/Tax). In most cases, those who are already registered will not have to apply, but there may be exceptions in some school districts. To verify that you are registered, it is best to call the Assessment Office at 274-0517.

Future tax reductions will fluctuate, based on the amount of revenue the state derives from gambling operations. School tax bills are mailed out in July. Taxpayers will receive a two-percent discount if they pay their bill by Sept. 30. A penalty is applied to payments made after Nov. 30.