Paperwork

• In Indiana, homestead exemption forms are found at local tax assessor’s offices. The form is completed and returned to the county auditor or assessor.
  
  

Maximum Amount

• In Indiana, the maximum amount received for a homestead exemption is the lowest of 60 percent of the assessed value or up to $45,000. Only one deduction per married couple is allowed.
  
  

Assessed Value

• The homestead exemption amount is deducted off the property owner’s assessed value of the property. This reduces the tax liability for the property owner.
  
  

Other Rules

• To qualify for this exemption, the property must be residential. The property owner must live in the house and it must be the owner’s primary residence.