Variations in Receipt of Benefit
No Variation in Receipt of Benefits
Eligible applicants receive an exemption of $50,000 from the assessed value of county, municipal, school and special assessment property taxes.
How is Benefit Disbursed
Exemption from assessed value
Eligible Property Type
Characteristics of Eligible Property
Only residential property is eligible for this program.
Description of Eligibility Criteria
Eligible taxpayers must be: (1) at least 65 years old; (2) classified as totally and permanently disabled by a state or federal agency; or (3) legally blind. They must also occupy the qualifying property as their primary residence. Surviving spouses are also eligible for the exemption.
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
State reimburses all of the local government tax loss
Description of State Funding for Tax Loss
The state reimburses local governments for the total cost of providing the exemptions.