Form Hc 10 PDF Details

Understanding the complexities of property tax deductions in Indiana can be a daunting task, but the HC 10 form serves as a critical tool for homeowners seeking to navigate this process. Officially known as the "Claim for Homestead Property Tax Standard / Supplemental Deduction," this document, prescribed by the Department of Local Government Finance, allows eligible homeowners to claim deductions on their property taxes. By filling out State Form 5473, residents can potentially lower the amount of property tax owed by claiming deductions for their principal place of residence. The form encompasses various ownership scenarios, including outright ownership, purchase under contract, beneficial interest in a trust, or as part of a cooperative housing corporation, each subject to specific qualifications outlined by state law. It also details the information required from claimants, like legal names, contact information, and certain identification numbers, ensuring privacy protections for sensitive data. Additionally, the form outlines the qualifications for homestead designation, instructions on when and how to file, and the consequences of failing to notify the county assessor of eligibility changes. Navigating the HC 10 form correctly can lead to significant savings for Indiana homeowners, making an understanding of its provisions, deadlines, and filing requirements essential.

QuestionAnswer
Form NameForm Hc 10
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other nameshomestead standard, state form 5473, in homestead supplemental, indiana state form 5473

Form Preview Example

CLAIM FOR HOMESTEAD PROPERTY TAX STANDARD / SUPPLEMENTAL DEDUCTION

State Form 5473 (R18 / 1-20)

Prescribed by the Department of Local Government Finance

FORM

HC10

YEAR

INSTRUCTIONS: See reverse side for filing instructions.

NOTE: Telephone, Social Security, driver’s license, state identification and federal identification numbers are confidential under IC 6-1.1-12-37.

CERTIFICATION STATEMENT

I (We) _________________________________________________________________certify that I (we) occupied as my (our) principal

place of residence or am (are) buying the following described real property under contract for which a Homestead Property Tax Standard Deduction is hereby claimed on the date this application is signed, ____________________________ (date of signature). I (We):

Own.

Am (are) buying under recorded contract.

Am (are) entitled to occupy as a tenant-stockholder of a cooperative housing corporation.

Have a beneficial interest in the trust or the right to occupy the property under the terms of a qualified personal residence trust. Am (are) the shareholder, partner, or member of the entity that owns the property.

CLAIMANT’S INFORMATION

Name of claimant (legal name)

Telephone number of claimant

()

Social Security number of claimant (last five digits)

Driver’s license / Identification / Other number of claimant (last five digits) (Applicable only if applicant does not have a social security number.)

Issuing State

Name of claimant’s spouse (legal name)

Social Security number of claimant’s spouse (last five digits)

Driver’s license / Identification / Other number of claimant’s spouse (last five digits) (Applicable only if applicant’s spouse does not have a social security number.)

Issuing State

CONTRACT RECORDED

If buying on contract, Fee Simple owner's name

Recorder's office where contract is recorded

Record number

Page

PROPERTY DESCRIPTION

County

Township

Taxing district (city, town, township)

 

 

 

 

 

 

Parcel number

Legal description

 

Is the property in question:

 

 

 

 

Real property

Annually assessed mobile home (IC 6-1.1-7)

 

 

 

 

 

If any portion of the residential structure or the land not exceeding one (1) acre that immediately surrounds that structure is used to produce income, describe the use and portion of the property utilized to produce income.

PROPERTY OWNED ELSEWHERE BY CLAIMANT

State, County, and Township

Is claimant vacating a homestead? Yes No

I hereby certify the above statements are true, correct, and complete.

Signature of claimant

Address of contact (number and street, city, state, and ZIP code)

Address of vacated homestead, if any (number and street, city, state, and ZIP code)

ASSESSOR USE ONLY

 

ASSESSED VALUE

HOMESTEAD VALUE

NON-RESIDENTIAL

 

VALUE

 

 

 

 

Land not exceeding one (1) acre immediately

(1)

 

 

surrounding residential improvements

 

 

Other land

 

(2)

 

 

Total land (line 1 plus line 2)

 

(3)

 

 

 

 

 

 

 

Residential improvements or

Dwelling

(4)

 

 

annually assessed mobile /

Garage

(5)

 

 

manufactured home

 

 

 

 

 

 

 

Other improvements

 

(6)

 

 

Total improvements (line 4 through line 6)

(7)

 

 

 

 

 

 

 

Total value (line 3 plus line 7)

 

(8)

 

 

 

 

 

 

 

I hereby certify the above is true, correct,

Signature of Assessor

 

Date signed (month, day, year)

 

 

 

and complete.

 

 

 

 

 

 

 

 

 

Verifying action - Signature of Auditor

 

 

 

Date signed (month, day, year)

 

 

 

 

 

STANDARD DEDUCTION ALLOWANCE

20 ______ pay 20 ______

Lesser of 60% of the assessed value of the homestead or $45,000.

Notwithstanding any other provision, the sum of the deductions provided in IC 6-1.1-12 to a mobile home that is not assessed as real property or to a manufactured home that is not assessed as real property may not exceed one-half (1/2) of the assessed value of the mobile home or manufactured home.

$

Signature of Auditor

Date signed (month, day, year)

DISTRIBUTION: Original - County Auditor, File-Stamped Copy - Taxpayer

Page 1 of 2

NOTICE OF HOMESTEAD STANDARD DEDUCTION

IC 6-1.1-12-37

The homestead standard deduction has been enacted to allow a property tax deduction for each qualified homestead. Read carefully the qualifying guidelines below:

DEFINITIONS: “Homestead” means an individual’s principal place of residence:

1.that is located in Indiana;

2.that:

a.the individual owns;

b.the individual is buying under a contract, recorded in the County Recorder’s office, that provides that the individual is to pay the property taxes on the residence and that obligates the seller to convey title to the individual upon completion of all of the individual’s contract obligations;

c.the individual is entitled to occupy as a tenant-stockholder (as defined in 26 USC 216) of a cooperative housing corporation (as defined in 26 USC 216);

d.is a residence described in IC 6-1.1-12-17.9 that is owned by a trust if the individual is an individual described in IC 6-1.1-12-17.9; or

e.is a residence owned by a corporation, partnership, limited liability company, or other entity and the requirements of IC 6-1.1-12-37(k) are met; and

3.the principal place of residence consists of a dwelling and the real estate (up to one (1) acre) that immediately surrounds that dwelling.

“Dwelling” means any of the following:

1.Residential real property improvements that an individual uses as the individual’s residence, including a house or garage;

2.A mobile home that is not assessed as real property that an individual uses as the individual’s residence; or

3.A manufactured home that is not assessed as real property that an individual uses as the individual’s residence.

WHO MAY QUALIFY: An individual who: owns a homestead, is buying a homestead under a recorded contract that requires the individual to pay the property taxes and that obligates the seller to convey title to the individual upon completion of all of the individual’s contract obligations, or is entitled to occupy the homestead as a tenant-stockholder of a cooperative housing corporation.

A trust is entitled to the homestead standard deduction for real property owned by the trust and occupied by an individual if the county auditor determines that the individual:

1.upon verification in the body of the deed or otherwise, has either:

a.A beneficial interest in the trust; or

b.The right to occupy the real property rent free under the terms of a qualified personal residence trust created by the individual under United States Treasury Regulation 25.2702-5(c)(2);

2.otherwise qualifies for the deduction; and

3.would be considered the owner of the real property under IC 6-1.1-1-9(f) or IC 6-1.1-1-9(g).

No portion of a residential dwelling that is income-producing is eligible for the homestead standard deduction, including, but not limited to, one-half of a duplex side or rented apartment that is a part of the structure, a beauty shop or crafts shop in one or two rooms of the structure, a dry cleaners or electronics shop beneath an apartment, or an auto repair shop in the garage.

Property owned by a corporation, partnership, limited liability company, or other entity is not entitled to the homestead standard deduction unless the requirements of IC 6-1.1-12-37(k) are met.

For assessment dates after 2009, the term “homestead” includes a deck or patio, a gazebo, and certain other residential yard structures (other than a swimming pool) assessed as real property and attached to the dwelling.

WHEN TO FILE: This application must be completed and dated in the calendar year for which the applicant desires to obtain the deduction and filed or postmarked with the county auditor on or before January 5 of the calendar year in which the property taxes are first due and payable. The application applies for that first year and any succeeding year for which the deduction is allowed.

HOW TO FILE: Forms must be filed at the county auditor’s office in the county where the homestead is located. If an individual mails this form and desires to have a file-stamped copy returned, the individual must provide a self-addressed, stamped envelope to the county auditor’s office.

Only one individual or married couple may receive a homestead deduction for a particular homestead in a particular year. The portion above the “Signature of claimant” must be completed in full before the deduction will be considered.

For additional filing information, please see IC 6-1.1-12-37.

DISALLOWANCE OF MULTIPLE CLAIMS: The county auditor may not grant an individual or married couple a homestead deduction if:

1.for the same year, the individual or married couple claims the homestead deduction on two (2) or more different deduction applications; and

2.the applications claim the homestead deduction for different property.

If a person moves from his Indiana principal place of residence (for which he is receiving a homestead deduction) after the assessment date to a new principal place of residence later that year, the homestead deduction on the first property will stay in place for that tax cycle and the person can apply for and potentially receive a homestead deduction on the new property for that same tax cycle. For the next assessment date, the homestead deduction would be removed from the first property. See IC 6-1.1-12-37(h).

A person must actually be eligible for the deduction at the time the application is signed, meaning the property is being used as his or her principal place of residence at the time of signing.

NOTICE OF SUPPLEMENTAL DEDUCTION

IC 6-1.1-12-37.5

A person who is entitled to a homestead standard deduction is also entitled to receive a supplemental deduction from the assessed value of the homestead to which the standard deduction applies after the application of the standard deduction, but before the application of any other deduction, exemption, or credit for which the person is eligible.

The amount of the supplemental deduction is equal to the sum of the following:

1.Thirty-five percent (35%) of the assessed value that is not more than six hundred thousand dollars ($600,000).

2.Twenty-five percent (25%) of the assessed value that is more than six hundred thousand dollars ($600,000)

The county auditor is required to record and make the deduction for the person qualifying for the supplemental deduction.

The statutory limit of one-half (1/2) of the assessed value that applies to the sum of the deductions provided under IC 6-1.1-12 to a mobile home that is not assessed as real property or to a manufactured home that is not assessed as real property does not apply to the supplemental deduction.

INELIGIBILITY PENALTY: If an individual whose property becomes ineligible for the homestead deduction fails to file a certified statement with the county auditor notifying the auditor of the ineligibility within sixty (60) days after the date of the change, the individual is liable for the amount of the deduction allowed for that real property, plus a civil penalty equal to ten percent (10%) of the additional taxes due.

Page 2 of 2

How to Edit Form Hc 10 Online for Free

standard homestead credit can be completed online without any problem. Simply try FormsPal PDF editor to finish the job promptly. To make our editor better and easier to work with, we consistently design new features, bearing in mind suggestions from our users. With a few simple steps, you'll be able to start your PDF journey:

Step 1: Access the PDF doc in our tool by clicking the "Get Form Button" in the top section of this page.

Step 2: The tool grants the ability to work with nearly all PDF forms in many different ways. Improve it by writing personalized text, correct what is already in the document, and add a signature - all close at hand!

Filling out this form needs attention to detail. Ensure every single blank is filled out correctly.

1. It is crucial to fill out the standard homestead credit properly, so be attentive while filling out the areas comprising all of these blank fields:

Ways to complete indiana homestead tax stage 1

2. Once this segment is done, you're ready to put in the essential particulars in If buying on contract Fee Simple, Recorders office where contract is, Record number, Page, County, Township, Taxing district city town township, PROPERTY DESCRIPTION, Parcel number, Legal description, Is the property in question, If any portion of the residential, Real property, Annually assessed mobile home IC, and State County and Township allowing you to go to the next step.

Ways to complete indiana homestead tax stage 2

Be really mindful when completing Taxing district city town township and Real property, because this is where most users make some mistakes.

3. The third stage is easy - complete all of the form fields in Other land, Total land line plus line, Residential improvements or, Dwelling, Garage, Other improvements, Total improvements line through, Total value line plus line, I hereby certify the above is true, Verifying action Signature of, Signature of Assessor, Date signed month day year, Date signed month day year, pay, and Lesser of of the assessed value in order to complete the current step.

Part # 3 of submitting indiana homestead tax

Step 3: After you've looked over the details provided, click on "Done" to finalize your FormsPal process. Create a free trial plan with us and acquire immediate access to standard homestead credit - with all changes kept and available in your personal cabinet. FormsPal provides secure document editing devoid of data record-keeping or any sort of sharing. Rest assured that your details are in good hands with us!