PROPERTY TAXES
Every state has some sort of property-tax benefit for seniors (often referred to as a homestead exemption), although the eligibility age varies. Six states have programs that freeze property taxes completely for seniors, and 10 limit how much a property’s tax value can increase.
Also, the homestead exemption can be larger when a homeowner reaches a certain age. (The larger the exemption, the lower the tax.) In Colorado, seniors 65 and older can exempt up to 50 percent of their residence’s first $200,000 in value. In Alabama, taxpayers 65 and older are exempt from the state portion of their property tax.
