With Gov. Ronnie Musgrove’s signing of a homestead exemptionbill, Lincoln County Tax Assessor-Collector Nancy Jordan isencouraging citizens to quickly take advantage of the higherproperty tax credit amounts.

The bill increases special homestead exemption property valuelevels for citizens over 65 and the disabled from $60,000 to$75,000, meaning they would not pay property taxes if theirproperty value is $75,000 or less. For regular homestead exemptionapplicants, the bill increases the maximum credit from $240 to$300.

The bill, which is retroactive to Jan. 1, is designed to helpcitizens after a county completes a reappraisal of property values.With a reappraisal to be completed later this year, Jordan saidLincoln County will fall under provisions of the bill, which waspresented by Dist. 53 Rep. Bobby Moak.

With the higher credit amounts, Jordan said some citizens mayneed to re-file in order to add property to their homesteadexemption applications. The deadline to file is Friday, but Jordansaid her office will be open Saturday until noon to assist thosewho need to add property to their homestead applications.

“We’re pleased we can give more homestead credit to lighten theburden of ad valorem (property) taxes,” Jordan said. “We wanteveryone who qualifies for this credit to receive it.”

Property owners who live outside the city limits and have one ormore tracts of land within five miles of their home may be able toadd the property to their homestead application, Jordan said. Thatwould allow them to increase the amount of their exemptioncredit

Citizens in that situation should contact the assessor’s officeat 835-3425 as soon as possible to see if they qualify for thehigher credit, Jordan said. Citizens should also have all vehiclelicense plate information with them when they call or come by theoffice, Jordan said.

The new $300 maximum homestead exemption credit is based on aproperty value of $75,000. Citizens who have property valued higherthan that amount do not need to re-apply.

“If they have that much in property value, they’ve already maxedout,” Jordan said.

Jordan said the homestead property add-on provisions would notapply to most city residents. To be eligible, a city resident musthave a lot adjacent to the property already on their homesteadexemption application and it may not be separated by a street.

“The majority of people don’t have but one lot,” Jordan saidabout city residents.

Homestead exemption filers who have only one piece of propertythat is valued at less than $75,000 do not need to re-apply, Jordansaid. They will automatically get the credit they are entitled to,she said.

Jordan said only those who may need to add property to theirhomestead exemption applications need to contact her. She said thebill’s Saturday signing gives property owners and her office only ashort time to get citizens signed up for the higher creditamounts.

“It leaves us only one week to get it done,” Jordan said.