Over-65 Senior Exemptions
Deferring Taxes, Abating Taxes, etc.
Seniors Over 65 years of age (and Disabled persons) have several unique options
available on their Homestead property:
- Defer ALL taxes until they no longer own and occupy the Homestead.
- Pay current year taxes in four (4) installments (as opposed to paying the total due
by January 31st.
- Abate tax lien collection activity until they no longer own and occupy the homestead.
The Over-65 Exemption applies to entire year (retroactive to January 1st in the year they turn 65.)
The Over-65 Exemption (but not the base Homestead Exemption) may be transferred to a new home at any time.
School Taxes are frozen at the $ amount of the school taxes in the year you turn 65 for your current homestead, and at the % of current taxes for a new home. Some taxing entities freeze other taxes in addition to school taxes (e.g., county taxes, city taxes, hospital taxes, etc.).
Exemptions effective on January 1st remain on the property for the entire year, even across any sale of the property, thereby benefiting the new owners. (Note: Over-65 sellers may transfer their Over-65 exemption, but not their base Homestead Exemption, to their new home.