Rebecca Penkaty, Assessor        

Exemption Information

Home Improvement Exemption:

What it is:

A four-year exemption on assessment increases that are due to new construction to your home, up to the statutory maximum of $25,000 in assessed value.

For example:

If you add a deck to your home that increases your assessment by $2,000, you will fall well under the $25,000 maximum; no portion of the $2,000 assessment increase will be taxable for four years.

However, if you add an addition that increases your assessment by $30,000, then you will exceed the $25,000 maximum; in this case, the first $25,000 of your $30,000 assessment increase will not be taxable for four years, but the remaining $5,000 will show up on your tax bill immediately.

Who qualifies:

Homeowners who own and occupy their home as their principal residence and have made an improvement to their home that increases its market value (thus triggering a corresponding increase in assessment).

How to apply:

You automatically receive your Home Improvement Exemption if you meet the above qualifications; no application is necessary.

Home  |  Property Search  |  Assessor's FAQ  |  Exemption Info  |  Assmt Process  |  Community Links  |  Contact Us 

©2005 Hampshire Township Assessor's Office -  Site created and maintained by The Rake Group