Delaware County, Indiana

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FAQs - Details


How can I receive an over 65 exemption?


Deduction for Persons over Age 65 or Surviving Spouses If you own property or mobile home or you are buying on a recorded contract, and you are over the age of 65 by December 31st of the prior year, you would/could qualify for the over 65 deduction if you meet the following requirements: Have a combined adjusted gross income of less than $25,000. Have an assessed valuation of less than $182,430. You owned the property before March 1st of the current year. For the surviving spouse deduction you must be over the age of 60, and the deceased spouse must have been at least age 65 at time of death. The deduction is either one half of your assessed valuation or $12,480, whichever is less. Bring your front page of your Federal 1040 for proof of your income. Circuit Breaker 0/65 Married couples adj gross income $40,000, single adj gross income $30,000 Have assessed valuation of less than $160,000 If your Adjusted Gross Income is under $25,000 and assessment under $160,000 then you would qualify for both portions of 0/65 lump sum plus circuit breaker