Variations in Receipt of Benefit
No Variation in Receipt of Benefits
The benefit is an assessment freeze. For the those that meet age requirements, the property valuation is frozen at its value in (1) the 2001 tax year; (2) the year in which the owner's 65th birthday occurs, if that is after 2001; or (3) the tax year following the tax year in which an owner who turns 65 or is 65 years of age or older first owns and occupies the property, if that is after 2001. For those that meet disability requirements the property valuation is frozen at its value in (1) the 2003 tax year; (2) the year in which the owner is determined to be disabled, if that is after 2003; or (3) the following the tax year in which an owner who is disabled or who is determined in that year to be disabled first owns and occupies the property, if that is after 2003.
How is Benefit Disbursed
Exemption from assessed value
Eligible Property Type
Characteristics of Eligible Property
Only single-family homes are eligible for this benefit.
Description of Eligibility Criteria
Applicants must be either disabled or over 65 and have an income below a base value of $18,000, set in 2003 and adjusted annually, for increases only in the consumer price index for all urban consumers published by the United States department of labor.
Local Option in Adoption of Program
Local government is unable to exercise an option
Local Option Regarding Program Features
No local option regarding program features
State Funding for Local Tax Loss
Local government covers all of its tax loss
Description of State Funding for Tax Loss
State statutes are silent on funding for this benefit.