To be eligible for this program you must meet all of the following requirements: age or disability, ownership, residency AND income – the year prior to the exemption.
This program is available to citizens who are at least 61 years old on December 31 of the assessment year or retired from regular gainful employment by reason of a disability or be a military veteran receiving compensation at a 100% rating, with an income of $40,000 or less. Exemptions must be renewed once every four years unless there is a change in status or income. Proof of income is required in addition to the information requested on the application form. Proof of disability is also required, if you do not meet the age requirement. Under the exemption program, the value of your residence is frozen for property tax purposes as of January 1 of the initial application year, exempts all excess and special levies and possibly regular levies – resulting in a reduction in your property taxes. (Levels of Exemption detailed below) The Assessor will continue to establish the market value of the property on an annual basis. Your taxes will be calculated on the lesser of market value or frozen value.
The exemption is available for your primary residence and up to five acres* of land. A mobile home may qualify, even if the land where the mobile home is located is leased or rented.
* The exemption is available for a primary residence and one acre of land. If local zoning and land use regulations require more than one acre of land per residence in the area where you live, you may be eligible for a property tax exemption on up to five acres of land.
Exemptions Category C - $35,001 to $40,000 When your household income is between $35,001 and $40,000, your home will be exempt from all excess or special levies. Excess or special levies are in addition to regular levies. They require voter approval and provide money for a specific purpose, such as school bonds and maintenance and operation levies. Category B - $30,001 to $35,000 When your household income is between $30,001 and $35,000 you are exempt from regular levies, for $50,000 or 35% of the assessed value, whichever is greater, not to exceed $70,000 of assessed value. Category A - $30,000 or Less When your household income is $30,000 or less, you are exempt from regular levies, on the first $60,000 or 60% of your home's assessed value, whichever is greater.