10 States Where Seniors Can Enjoy Major Property Tax Exemptions

Property taxes are an unavoidable part of homeownership for many. But when you reach your golden years, some states are willing to give you a break on property taxes.

For many seniors, understanding the property tax exemption opportunity in their state could play a significant role in their retirement plans.

This guide explores 10 states with significant property tax exemptions for seniors.

For Alaska residents who qualify as senior citizens at age 65, the state exempts the $150,000 of the assessed value of the home from property taxes.

To qualify, you need to have lived in Alaska for at least a year and make the property your main home. After that, just be sure to live there for at least 185 days each year.

Florida homeowners aged 65 or older may qualify for additional homestead exemptions. Local governments can offer up to a $50,000 exemption for seniors meeting specific income limits.

Some municipalities provide an exemption equal to the property's assessed value if the homeowner is 65 or older, has lived in the residence for at least 25 years, the property's just value is less than $250,000, and household income is within local limits.

Eligibility criteria and benefits vary by location; consult your county property appraiser for details.

Senior citizens living in Hawaii as primary residents can enjoy a home exemption of $160,000. In order to claim the exemption, you must be 65 years or older on or before June 30 of the preceding tax year.

Notably, if you rent more than two bedrooms, you may lose access to this exemption.

When seniors turn 65 in Alabama, they are exempt from paying the state portion of their property tax bill. Notably, this property tax exemption only applies to a home on up to 160 acres.

However, county taxes may still be required. If you have an Adjusted Gross Income (AGI) of $12,000 or more, then you will likely face property taxes at a county level.

Qualifying seniors in Colorado enjoy having 50% of the first $200,000 of the actual value of their primary residence exempted from property tax.

In order to qualify, at least one owner of the home must be 65 or older and occupied the property as a primary residence for at least 10 consecutive years before applying for the exemption.

For example, if you have a home with an assessed value of $300,000, this formula indicates you would only pay property taxes on $200,000.

In Louisiana, homeowners aged 65 or older with an adjusted gross income of $100,000 or less can apply for the Special Assessment Level Freeze. This program "freezes" the assessed value of your primary residence, potentially protecting you from rising property taxes due to increased property values.

However, your tax bill may still rise if your parish increases the millage rate or if you expand your home's size. For example, if your home is valued at $250,000 when you apply and later increases to $350,000, your tax-assessed value remains at $250,000. Note that you must apply to receive this benefit.

Wyoming offers permanent residents who have lived in the state for at least 25 years a break on property at age 65. To qualify, you must live in the primary residence for at least eight months of the year.

If you qualify, you could receive a 50% reduction on your property taxes for 2025. Essentially, this would cut your bill in half.

For seniors 65 years and older, West Virginia exempts the first $20,000 of the assessed value of an owner-occupied primary residence.

For example, if you qualify for this exemption, you’d pay property taxes on $180,000 of your home valued at $200,000.

Nevada offers a relatively unique rebate program on property taxes for senior citizens. If you are at least 65 years old on June 30 of the prior year and lived in Nevada as a full-time resident, you might qualify for a $500 property tax rebate.

The catch is that you’ll only qualify with an individual income of less than $23,540 or a combined income of $31,860. Additionally, your liquid assets cannot exceed $150,000.

If you meet the requirements, you’ll pay your property taxes as scheduled. However after filing an application, you might receive a rebate.

Utah seniors age 75 and older may qualify for property tax relief in Utah. If you qualify, you can defer your tax bill, which will accrue interest at half the normal rate. You won’t have to settle the bill until you sell the residence, transfer ownership, or fail to submit the annual application on time.

For example, in Salt Lake County, seniors age 75 and older with a household income of less than $81,680 and assets less than 20 times the amount of property tax levied in the previous year may qualify to defer their tax bill.

Depending on the situation, you might defer until you want to sell the house, which would give you a chance to pay for the taxes with the equity you recoup from the sale.

Don’t hesitate to brush up on your knowledge of the property tax rules in your particular county.

As you navigate property taxes, understanding how to get out of tax debt could help you move past sticky financial situations in retirement.