Homestead Deduction in Tippecanoe County, Indiana
Last Updated: August 2026
If you own and live in your home as your primary residence, Indiana’s Homestead Deduction can significantly reduce the assessed value used to calculate your property taxes.
Recent Indiana property tax changes have changed the amounts homeowners receive and added a new Homestead tax credit.
Quick Answer
Qualifying Tippecanoe County homeowners may receive:
Homestead Standard Deduction
Reduces the assessed value of your primary residence.
Supplemental Homestead Deduction
Provides an additional assessed-value reduction after the Standard Homestead Deduction. It is applied automatically when you qualify for the Standard Homestead Deduction.
Supplemental Homestead Credit
A newer Indiana property tax credit that can reduce the actual tax bill by up to $300. It is also applied automatically to qualifying homesteads.
You apply for the Homestead Standard Deduction through the Tippecanoe County Auditor.
Who Qualifies?
The Homestead Deduction is intended for your principal place of residence.
Generally, you must:
- Own the residence, or qualify under another ownership arrangement allowed by Indiana law
- Use the property as your principal residence
- Meet Indiana’s homestead requirements
- Not improperly claim another homestead deduction in Indiana or an equivalent benefit in another state
Certain buyers purchasing under a recorded contract and qualifying individuals whose residence is held in a trust may also qualify.
If your ownership situation is unusual, contact the Tippecanoe County Auditor before applying.
→ Current Indiana Homestead Deduction Information
How Much Is the Homestead Standard Deduction?
Indiana is gradually phasing down the Standard Homestead Deduction.
For the 2026 assessment year, the Standard Homestead Deduction is $40,000.
The scheduled amounts are:
- 2026 assessment: $40,000
- 2027 assessment: $30,000
- 2028 assessment: $20,000
- 2029 assessment: $10,000
- 2030 and later assessments: $0
That does not mean Indiana is eliminating Homestead property tax relief.
At the same time, Indiana is increasing the Supplemental Homestead Deduction and has added a new Supplemental Homestead Credit.
→ See Current Indiana Homestead Rules
Supplemental Homestead Deduction
Homeowners who qualify for the Standard Homestead Deduction also receive a Supplemental Homestead Deduction.
You do not file a separate application for it.
Indiana is increasing this deduction as the Standard Homestead Deduction is phased down.
For 2026 Pay 2027, the Supplemental Homestead Deduction is 46% of the assessed value remaining after the Standard Homestead Deduction.
The percentage continues increasing over the next several years.
This is one reason you should not assume that a declining Standard Homestead Deduction means your overall Homestead benefit is simply disappearing.
New Supplemental Homestead Credit
Indiana also created a Supplemental Homestead Credit beginning with property taxes payable in 2026.
This is different from the Supplemental Homestead Deduction.
The credit reduces your actual property tax liability and is equal to the lesser of:
- 10% of the property tax liability attributed to the qualifying homestead, or
- $300
Do I Have to Apply?
No.
If you qualify for the Homestead Standard Deduction, the county identifies eligible property and applies the Supplemental Homestead Credit automatically.
How to Apply for the Homestead Deduction
Indiana currently uses:
State Form 5473 (HC10) – Claim for Homestead Property Tax Standard / Supplemental Deduction
→ Get the Current Homestead Deduction Form
You can also find current deduction forms through Indiana’s Department of Local Government Finance.
→ Indiana Property Tax Deduction Forms
Applications are filed with the Tippecanoe County Auditor.
Tippecanoe County Auditor
20 N. Third Street, 2nd Floor
Lafayette, IN 47901
Phone: 765-423-9207
Hours: Monday–Friday, 8:00 AM–4:30 PM
Forms may be brought or mailed to the Auditor’s Office.
→ Tippecanoe County Property Tax & Homestead Information
Filing Deadline
The general filing deadline is January 15 for the deduction to appear on the applicable tax bill.
For example, an application filed by January 15, 2027 would generally apply to the 2026 Pay 2027 property tax bill.
If you’re close to the deadline or recently purchased a home, contact the Auditor to confirm which tax bill your application will affect.
→ Check Current Indiana Filing Requirements
Do You Have to Apply Every Year?
Usually, no.
Once properly established, you generally do not need to reapply every year.
However, changes involving ownership, title, marital status, or how the property is used may affect the deduction.
If you’re unsure after a deed or ownership change, verify your Homestead status with the Auditor.
If You Move or Stop Using the Home as Your Primary Residence
This is important.
If you become ineligible for the Homestead Deduction because the property is no longer your principal residence or because you are receiving another Homestead Deduction or equivalent benefit, Indiana requires you to notify the county auditor within 60 days.
Indiana can assess back taxes and penalties when a Homestead Deduction is improperly claimed.
→ Homestead Change of Use Form
Do not simply assume the deduction will automatically disappear when you move.
Buying a Home
If you recently purchased a home, don’t assume the previous owner’s Homestead Deduction automatically becomes yours.
Check your property information and make sure the deduction is properly associated with you and your qualifying residence.
→ Tippecanoe County Property Tax Information
Refinancing Your Mortgage
Refinancing does not mean you need to apply for Indiana’s old Mortgage Deduction.
That deduction has been eliminated.
A refinance does not automatically mean you lose your Homestead Deduction, but if the transaction changes the property’s title or ownership, verify your Homestead status afterward.
→ TRH Mortgage & Property Tax Guide
Property Held in a Trust
Some homes owned by qualifying trusts can receive the Homestead Deduction when the individual meets Indiana’s requirements.
Trust ownership can be more complicated than ordinary individual ownership, so contact the Auditor if your home has been transferred into a trust.
→ Contact the Tippecanoe County Auditor
Check Whether You Already Have the Homestead Deduction
Before applying, check your current property information or tax bill.
Your tax bill should show deductions and credits that have been applied to the property.
→ TRH Property Tax Lookup Guide
If you think your Homestead Deduction is missing, contact the Auditor.
Local Tip
Check your Homestead status after any major property change.
Buying a home, changing a deed, getting married or divorced, transferring a home into a trust, or changing your primary residence can affect your Homestead information.
It’s much easier to verify the deduction now than discover later that it was missing — or that you were receiving one you were no longer eligible to claim.
Frequently Asked Questions
Can I claim a Homestead Deduction on a rental property?
Generally, no. The property must qualify as your principal place of residence.
Can I have Homestead Deductions on two homes?
Generally, no. Indiana’s Homestead benefit is for your principal residence, and you cannot improperly claim multiple Homestead benefits.
Do I need to apply every year?
Usually not. Once established, the deduction generally remains unless ownership, title, residency, or another eligibility factor changes.
Is the Homestead Deduction going away?
The Standard Homestead Deduction is being phased down, but that is only one part of Indiana’s Homestead property tax relief.
Indiana is simultaneously increasing the Supplemental Homestead Deduction and has added the Supplemental Homestead Credit.
What is the new $300 Homestead Credit?
Beginning with taxes payable in 2026, qualifying Homestead properties receive a Supplemental Homestead Credit equal to the lesser of 10% of qualifying property tax liability or $300.
You do not file a separate application for this credit.
What happens if I move?
If you become ineligible for the Homestead Deduction, notify the county auditor within 60 days.
Where do I apply?
Apply through the Tippecanoe County Auditor.
→ Tippecanoe County Homestead Information
Related Pages
→ Property Tax Deductions & Credits
Official Resources
Tippecanoe County Auditor
→ Homestead & Property Tax Information
Indiana Department of Local Government Finance
→ Current Homestead Application – Form HC10
Summary
The Homestead Deduction can significantly reduce property taxes for Tippecanoe County homeowners who use their property as their primary residence.
Indiana is changing how Homestead tax relief works. The Standard Homestead Deduction is gradually decreasing, while the Supplemental Homestead Deduction is increasing. Beginning with taxes payable in 2026, qualifying homeowners also receive a new Supplemental Homestead Credit of up to $300.
Apply through the Tippecanoe County Auditor, and check your Homestead status after buying a home or making changes to ownership, title, or residency.