Are you Paying too much in taxes? The Homestead Exclusion - Adam Slivka

Are you Paying too much in taxes? The Homestead Exclusion

A few weeks back I did a segment on tax assessment and how to determine if your home is over assessed. Today I’m discussing another way to ensure you are paying the minimum required on your primary home. Within the state of Pennsylvania a tax break for your primary residence can be had through the homestead exclusion. Funds from gambling tax are distributed to school systems across the state. Depending on the number of homes within your school system that are qualified to receive the tax break, as well as, the actual proceeds received from the state a certain portion of your school tax will be offset from what you are required to pay. So how do you qualify? First, you can only apply for the exemption on your primary home. Second, you fill out the appropriate form and submit it prior to March 1st of the calendar year. If you reside in Westmoreland County your application can be found here (Homestead Exclusion). After submitting it, you simply await approval based on the home being your primary residence.