3. Explore Senior Tax Break (Calculate Your Property Tax)
Several states have offered property tax relief programs for homeowners who are 65 and above. Some of these states even provide property tax freeze programs, which means that your property taxes, regardless of how much value your home appreciates, keep the same level.
What to Do: If you are a senior citizen, browse the property tax relief homes in your locality. In some cases, taxes are paid by the seniors only on a specific part of the asset’s value, so they reduce their overall tax burden.
Action: Visiting the local tax assessor’s office will tell you whether you qualify and how to apply for any senior property tax benefits that will apply to you.
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