Evening Republican, Volume 16, Number 65, Rensselaer, Jasper County, 15 March 1912 — File Mortgage Exemptions In March and April. [ARTICLE]

File Mortgage Exemptions In March and April.

Mortgage exemptions must be filed in March or April, and at no other time. Any notary or justice of the peace will acknowledge exemptions. Persons having mortgages on real estate are entitled to file for exemption of taxation up to S7OO or half the assessed valuation. ■■ If the valuation is $1,400 or more, then S7OO can be deducted, providing the mortgage amounts to that much. Otherwise the exemption is only half the valuation. One person can file but one exemption for the full amount; several exemptions can be filed by the same person if the total exemptions do not exceed S7OO. When property is held jointly all the joint owners must sign the exemption and S7OO is the limit. Where persons ask for an exemption as joint owners they cannot ask for another exemption as individuals. Firms, corporations, lodges, etc., cannot secure exemptions. Persons owning individual interests in real Estate can each secure an exemption to the amount of S7OO, providing their undivided interest has assessed valuation of $1,400.