Tax abatement programs can eliminate or reduce property taxes for a certain number of years, according to Investopedia. Low-income families and senior citizens can reduce or eliminate property taxes through circuit breaker programs or other local tax deferral or refund programs, says the Consumer Financial Protection Bureau.
Property tax deferral and refund programs usually help those who meet specific income, age or disability requirements, says the Center on Budget and Policy Priorities. On the other hand, tax abatement programs are open to anyone who lives in a home or on a property that meets certain qualifications. Those qualifications are set by the local government, but they are usually used to help attract homebuyers to certain revitalization areas, according to Investopedia.