08/12/2026
Low-income Senior Citizens Assessment Freeze Homestead Exemption Reminder
A person qualifies for this exemption if the person
is at least 65 years old;
has a total household income of:
$75,000 or less for taxable year 2026 (payable in 2027),
$77,000 or less for taxable year 2027 (payable in 2028),
$79,000 or less for taxable year 2028 (payable in 2029) and after; and
meets certain other qualifications.
This exemption "freezes" the senior citizen's property's equalized assessed value the year that the senior citizen qualifies for the exemption. The property's equalized assessed value does not increase as long as qualification for the exemption continues. The tax bill may still increase if any tax rates are increased or if improvements are added that increase the value of the property.
This exemption allows senior citizens who meet the qualifications to elect to maintain the equalized assessed value (EAV) of their homes at the base year EAV and prevent any increase in that value due to inflation. The amount of the exemption benefit is determined each year based on (1) the property's current EAV minus the frozen base year value (the property's prior year's EAV for which the applicant first qualifies for the exemption), and (2) the applicant's total household maximum income limitation.
Each year applicants must file a Form PTAX-340, Low-income Senior Citizens Assessment Freeze Homestead Exemption Application and Affidavit, with the Chief County Assessment Office.
