Property Tax Waivers / Freezes

Local governments can assist residents by offering property tax waivers or tax freezes, especially for specific groups such as seniors, veterans, or low-income homeowners. A property tax waiver reduces or eliminates the tax burden for eligible individuals, providing relief to those who may struggle to meet rising tax rates due to fixed or limited incomes. Tax freezes, on the other hand, lock in a property's assessed value at a certain point, ensuring that taxes do not increase as property values rise, providing stability and predictability in financial planning.

To implement these measures, local governments can establish clear eligibility criteria, such as age, income level, or disability status, and create streamlined application processes to make it easier for residents to access the relief. These programs help protect vulnerable residents from being priced out of their homes due to increasing taxes, fostering economic stability and community retention. Additionally, governments can ensure proper outreach and communication to inform eligible homeowners about available programs and provide assistance in navigating the application process.