Property Tax Exemption for Seniors

[SeaBreeze]

Some seniors in certain states may be qualified for a property tax exemption for taxes on your home. You have to research your state and county assessor website for information pertaining to you. You have to download a form, fill it out, and turn it in to your local county assessor office.

The notice we got said 50% of the first $200,000 dollars in actual value of the residence may be considered. The age to quality is 65 years old. You have to have owned and occupied the house for at least 10 years.

Worth looking into for some potential savings on your house taxes each year. My husband just turned 65, so we may not qualify until next year, but he intends to fill out the form and turn it in now, just to get it out of the way.

The same notice also included information for disabled Veteran exemptions also.

 

[jujube]

I used to get a "widow's exemption" when I owned a home. I wasn't old enough to get a senior exemption, so that helped.

 

[Don M.]

Here, we get a property tax exemption, the premiums for Long Term Care insurance are deducted, and most of SS is not subjected to state taxes. Added up, it makes for a nice State tax refund every year. I did the taxes today, and should be getting a nice refund from both the Feds and the State.

 

[QuickSilver]

I started getting mine in Illinois last year... at age 66 since here, property taxes are a year behind and you must be 65 in the year the discount is taken. I've gotten about $1,500 a year knocked off my property tax.

 

[Ken N Tx]

Here, we get a property tax exemption, the premiums for Long Term Care insurance are deducted, and most of SS is not subjected to state taxes. Added up, it makes for a nice State tax refund every year. I did the taxes today, and should be getting a nice refund from both the Feds and the State.

Property Tax frozen at 65...Texas does not have a State Income Tax..

 

[QuickSilver]

Property Tax frozen at 65...Texas does not have a State Income Tax..View attachment 26483

In Illinois we cannot get a "freeze" unless our income is under $41,000.. but we Do get a Senior Discount.. However we DO have to reapply for it every year by signing an affidavit that we are over 65.... does that make any sense? I guess if I were over 65 last year... it's a pretty safe bet I am over 65 this year.. NO?

 

[Butterfly]

In Illinois we cannot get a "freeze" unless our income is under $41,000.. but we Do get a Senior Discount.. However we DO have to reapply for it every year by signing an affidavit that we are over 65.... does that make any sense? I guess if I were over 65 last year... it's a pretty safe bet I am over 65 this year.. NO?

Would seem so. If you've found a way to go backward in age, please let me know!!