Variations in Receipt of Benefit
No Variation in Receipt of Benefits
Eligible individuals are 100% exempt from state ad valorem taxes. There is no income limitation. For senior homesteads below the income limitation, up to $5,000 in assessed value is exempt for county and school district taxes. For those above the income limit, the exemption is $2,000, for county taxes only. There is no exemption for school district taxes. At local option, an additional exemption of up to $2,000 in assessed value may be available at the higher income level. For blind applicants, there is no income limit. The exemption is limited to $5,000 and applies to school district taxes as well as county taxes.
How is Benefit Disbursed
Exemption from assessed value
Eligible Property Type
Characteristics of Eligible Property
Residential property that does not exceed 160 acres is eligible for this program.
Description of Eligibility Criteria
Eligible individuals are state residents and over 65 years of age or blind. The size of exemption for those over 65 for county taxes is dependent upon income. For those with Federal income less than $12,000, there is no limit on the exemption. For those with State income less than $12,000, the exemption is $5,000. There is no income limitation for blind residents.
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 and local government share the local tax loss
Description of State Funding for Tax Loss
The state covers the cost of the exemption from state property taxes.