Over 65 Deductions

There are two deductions/credits available to homeowners age 65 or older. Taxpayers use the same form to apply for the Over 65 Deduction and/or the Over 65 Circuit Breaker Tax Credit. You may receive both deductions/credits if you qualify for both.

Over 65 Deduction

This deduction subtracts from your assessed value one-half of the property value or $12,460, whichever is less. How much this deduction can save on your tax bill depends on several factors, such as your tax rate and the assessed value of your property.
To receive this deduction, taxpayers must meet all of the requirements. The requirements include:
  • The applicant and any joint tenants or tenants in common must reside in the home for at least one year before the deduction is claimed.
  • The property's assessed value cannot exceed $182,430.
  • The combined adjusted gross income (AGI) of the property owners cannot exceed $25,000.
  • Applicants must be at least age 65 in the year preceding the year in which the deduction is claimed.
  • A surviving, un-remarried spouse who is at least age 60 may qualify for the deduction if the late spouse was at least age 65 and all other criteria are met.

Over 65 Circuit Breaker Credit

This tax cap limits the tax on qualified homesteads to no more than a 2% increase from the previous year. Note that this tax cap applies only to the homestead portion of the property.
The requirements include:
  • The homestead's assessed value cannot exceed $160,000.
  • The adjusted gross income (AGI) cannot exceed $30,000 for an individual or $40,000 for married couples filing jointly.

You can file your deduction application in person or by mail. If you have any questions about how to fill out the application form, we strongly recommend that you file in person at the Auditor's office. Staff will be able to answer questions you may have to assure that the form is completed correctly.

You can file the application in person or by mail at: Porter County Auditor, 155 Indiana Ave., Suite 204, Valparaiso IN 46383.

Download The Over 65 Deduction/Over 65 Circuit Breaker Credit Application Form

You can download complete information about all deductions, including maximum amounts, eligibility and restrictions HERE.

Questions about this deduction? Your can submit your question online HERE.

Frequently Asked Questions

Q: Can I receive both the Over 65 Deduction and the Over 65 Tax Credit?
A: Yes, as long as you meet all criteria.

Q: Is my Over 65 Deduction affected if my child is on the deed with me?
A: The person applying for the deduction and any joint tenants or tenants in common other that a spouse must live in the home. The deduction is lowered by a fraction based on the number of owners (other than a spouse) younger than age 65. For example: A father and his son are both on the deed and both live in the home. All criteria are met, except that the son is younger than age 65. In this case, one half of the deduction is allowed.

Q: How do I determine my AGI?
A: Look at your most recent federal tax return. When you apply, be prepared to show the Auditor's office a copy of your and any co-owners' tax returns.