Yes, the referendum became effective January 1, 2002, and is reviewed each year by the state legislature. *Note: the property tax exemption for seniors was not funded for tax year 2009, 2010, and 2011. If you meet the qualifying criteria 50% of the first $200,000 of actual value of residential property shall be exempt from taxation for the "primary residence". The property owner must be at least 65 years old and have owned and occupied the property as his or her primary residence for the 10 years immediately preceding the assessment date. The owner-occupier is the spouse or surviving spouse of an owner-occupier who previously qualified for a property tax exemption for the same residential real property.
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