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What property tax relief options are available for seniors?

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Quick Answer

Property tax relief options such as exemptions, deductions, freezes, deferrals and reduced assessments are available in many states for senior citizens, according to Needhelppayingbills. Details of such options are different, depending on what is offered by the state, county or municipality.

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Full Answer

Several states offer property tax exemptions to seniors, which can be applied to their homes, resulting in considerable savings, Needhelppayingbills reports. The postponement program in California, for example, offer seniors who qualify the option of exemption until they sell their homes, move or die. Maine offers property tax exemptions up to a certain amount for those who are 62 and older. In New York, a resource called the Senior Citizen Homeowners? Exemption provides help with paying property taxes to qualified seniors. Most counties in New York also offer some kind of exemption or deduction on property taxes for senior citizens.

Freezes allow some senior taxpayers to receive reimbursements to prevent the continuous rise of property taxes, explains Needhelpayingbills. In Oklahoma, for example, State Question 677 allows for homestead property rates and assessments to be frozen if an owner is 65 or older and meets certain income conditions. Deferrals in some states allow for the payment of overdue property taxes to be postponed until the property is sold.

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