Get Form Ptax 342 R

Most senior homeowners are eligible for this exemption if they are 65 years of age or older (born in 1957 or prior) and own and occupy their property as their principal place of residence. Once this exemption is applied, the Assessor's Office automatically renews it for you each year.

Form PTAX-342, Application for Standard Homestead Exemption for Veterans with Disabilities, must be submitted to • initially apply for the SHEVD, • transfer the SHEVD to the surviving spouse for the first year after the death of the veteran with a disability, or • transfer the SHEVD to a new primary residence.

Veterans or surviving spouses of veterans with a service-connected disability of 70% or more will be exempt from paying property taxes on their primary residences (100% reduction in EAV).

Most homeowners are eligible for this exemption if they meet the requirements for the Senior Exemption and have a total household annual income of $65,000 or less in the calendar year 2021. This exemption provides significant savings by "freezing" the equalized assessed value of an eligible property.

Senior homeowners are eligible for this exemption if they are over 65 years of age and have a total household annual income of $65,000 or less in the 2021 calendar year. A "Senior Freeze" Exemption provides property tax savings by freezing the equalized assessed value (EAV) of an eligible property.

Seniors can save, on average, up to $300 a year in property taxes, and up to $750 when combined with the Homeowner Exemption. The applicant must have owned and occupied the property as of January 1 and must have been 65 years of age or older during the tax year in question.

Filing requirements vary by county; some counties require an initial Form PTAX-324, Application for Senior Citizens Homestead Exemption, or a Form PTAX-329, Certificate of Status Form for Senior Citizens Homestead Exemption (annual renewal application) to be filed with the Chief County Assessment Office.

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.