Homestead Tax Credit Program Deadline

The deadline for applying for the Homestead tax credit is December 31, 2012.  If you have not applied by then you will not be able to apply for the foreseeable future so if you own your own home, you should apply now if you have not done so already.  Why? Because the market is improving and although the expectation is for slow growth over years, if there is any bump or bubble in prices, your taxes would be capped at 5% over the previous years taxes.  If you are not granted the tax credit, then your taxes will rise with the estimated tax value just as it does for investors.  This program has been extended for several years now, but this seems to be the real deadline.  It seems from sampling that fully a third of my neighbors and your neighbors have not applied. Go to www.SDAT.org to check if yours was received and/or approved or not.  You can check on your loved ones and friends as well while you are at it. It couldn't hurt. Happy Holidays everyone and best wishes in the New Year!