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Senior Citizen Property Tax Exemption New York

Can Senior Citizen Property Tax Exemption

2019 Changes to New York Exemptions for Property Owners Age 65 and Over. In the prior years, older adults who qualified for the Partial Tax Exemption for Real Property of Senior Citizens (also known as the senior citizens or aged exemption) were automatically granted the Enhanced STAR exemption.

Do Seniors get a Property Tax Break?
A property tax break may also be available if you’re the survivor of a qualified taxpayer. In Alaska, the tax exemption is available to residents 65 or older; the amount is 10 percent of assessed value, with a maximum exemption amount of $10,000.

What is a Senior Exemption for Property Taxes?
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.

What is the Standard Deduction for Seniors Over 65?
Age: If you are age 65 or older, you may increase your standard deduction by $1,600 if you file Single or Head of Household. If you are Married Filing Jointly and you OR your spouse is 65 or older, you may increase your standard deduction by $1,300.

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