Reminder from The JD Dorris Team at First United Mortgage in Owasso

The JD Dorris Team REMINDER: If you purchased a new primary home in 2017, make sure to file your homestead exemption for FREE! Contact your local county office for more information on filing discounts for taxes.

Homestead Exemption

The homestead exemption is a legal regime to protect the value of the homes of residents from property taxes, creditors, and circumstances that arise from the death of the homeowner spouse. Such laws are found in the statutes or the constitution of many of the states in the United States.

Homestead Exemption Valuation
Homestead Exemption is an exemption of $1,000 of the assessed valuation. In tax year 2017, this was a savings of $91 to $140 depending on where you live in the county.

To Qualify

You must be the homeowner of record who resides on the property by January 1.
The property deed must be notarized on or before January 1 and filed with the County Clerk’s Office on or before February 1.
You must be a resident of Oklahoma.

Homestead Exemption applications are accepted at any time throughout the year. However, the application must be filed by March 15 or within 30 days from the date of issue on the “Notice of Increase in Assessed Value of Real Estate” to be approved for the current year. Any application filed after these dates cannot be approved until the following year.