Putnam County assessors adopt policy excluding LLC-owned properties from homestead exemption; trust applicants must file affidavit

The Putnam County Board of Tax Assessors on Oct. 14 unanimously adopted a policy excluding properties held in limited liability companies from the county's homestead exemption and set a new affidavit requirement for trust-owned properties. Chief Appraiser Chuck Anglin was directed to write the formal policy.

Why it matters: Homestead exemptions lower property tax bills for qualifying primary residences. By excluding LLC-owned real estate, the board is tightening eligibility rules that affect owners who hold title through business entities.

At the meeting, Anglin presented a TrueRoll flag on parcel #072-020, a property listed in an LLC. Board member Shona Bales moved and Virginia Daley seconded a motion to send a letter advising the owners to transfer the property to their names by Jan. 1, 2026 or face removal of the homestead exemption. The board voted unanimously to send the letter and to adopt the policy excluding LLCs from homestead eligibility. John Richter moved, and Bales seconded, the motion to adopt a second requirement that taxpayers applying for homestead on property held in trusts must submit a trust affidavit; that motion passed unanimously.

The board's action stemmed from staff recommendations and a discussion of administrative clarity and auditability. Anglin told the board he would draft both the LLC-exclusion policy and the trust affidavit guidance for formal inclusion in assessor procedures; the minutes record that policies will be written by Mr. Anglin and attached to future minutes when finalized.

Next steps: The board mailed a compliance letter for parcel #072-020 and set Jan. 1, 2026 as the date by which title should be transferred to maintain homestead eligibility. Mr. Anglin will prepare the written policy language for future board review and formal adoption.