Indiana Homestead Standard Deduction

Henry County Auditor

Available Property Tax Relief

About This Program

Indiana Homestead Standard Deduction is available to homeowners in New Castle, IN.

Indiana homestead deduction reduces the assessed value of your primary residence by up to 60%, lowering your annual property tax bill. Must be your principal residence as of January 1 of the tax year. One-time application, renews automatically.

Reduces assessed value by up to 60%, resulting in lower property tax

Official source site checked live on 2026-06-22.

Data last verified 2026-06-09. How we verify our data.

In New Castle, IN, you can combine this program with other local help to cut your cost:

Key Details

  • Reduces assessed value by up to 60%
  • Must be primary residence in Indiana
  • One-time application, auto-renews
  • File by December 31 annually
  • No income requirements

How to Apply

Get free help applying Visit Official Program Page Track this program

(765) 529-4242

A grant-savvy contractor in New Castle, IN can handle the paperwork, inspections, and timelines so your funding releases on schedule. Getting matched is free.

Your application paperwork

Form to file: Claim for Homestead Property Tax Standard / Supplemental Deduction (State Form 5473 / HC10)

The Homestead Standard Deduction lowers the taxable assessed value of the Indiana home you own and occupy as your principal residence, and it unlocks an additional supplemental deduction. You file the homestead claim (State Form 5473, the HC10) once with your county auditor and do not reapply each year.

Steps to apply

  1. Confirm you own and occupy the Indiana home as your principal place of residence and do not claim a homestead elsewhere.
  2. Get the Homestead Deduction claim form (State Form 5473 / HC10) from the Indiana DLGF.
  3. Complete it with the property and owner information, including the last five digits of the owner's ID.
  4. File it with your county auditor by the December 31 deadline to apply to the next year's bill.
Get the official form

Documents you will likely need

  • Proof you own and occupy the home as your principal residence.
  • The owner's Social Security number and driver license or state ID (last digits) as the form requires.
  • The property's parcel or key number.
  • The completed homestead claim form.
Download this checklist (PDF)

Requirements vary by program and locality. Confirm the exact rules on the official program page. We can help you prepare your paperwork, but you submit it yourself.

Deadline: File by December 31 annually

Questions about this program?

Ask us. It is free, and a real person answers within a business day.

Email us about this program

Frequently asked questions

How much can Indiana Homestead Standard Deduction provide in New Castle, IN?

Up to 60% of assessed value reduction.

Who qualifies for Indiana Homestead Standard Deduction in New Castle?

Indiana Homestead Standard Deduction is open to homeowners in New Castle, IN. It has no income limit.

How do I apply for Indiana Homestead Standard Deduction in New Castle, IN?

Apply directly with Henry County Auditor using the official program link on this page or call (765) 529-4242. There is no middleman and no fee. Deadline: File by December 31 annually.

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