El Paso County Assessor Homestead Exemption

El Paso county assessor homestead exemption services deliver homeowners real savings on annual tax bills. The homestead exemption program reduces the taxable value of your primary residence, securing primary residence tax relief right away. Many homeowners face steep bills, yet the residential tax reduction program exists to lower those costs. Filing through the assessor exemption application system guarantees you receive the property tax savings program benefits you earned. This owner occupied property exemption guarantees you only pay taxes on a fraction of your home’s assessed value. Completing your homeowner tax exemption filing locks in these discounts long term. Knowing the El Paso County homestead exemption rules helps you claim the county property tax relief you deserve.

El Paso county assessor records reveal who qualifies for this residential property tax break. Filing a primary residence declaration activates your entry into the property tax exemption system. Homeowners must satisfy the property ownership occupancy requirement rules to secure assessed value reduction program benefits. Failing the residency proof property tax exemption check triggers common exemption denial reasons property tax applicants face. You can avoid rejection by preparing proper documentation for homestead exemption forms before the filing deadline exemption property tax dates expire. When you submit your online homestead exemption application, assessor office exemption processing starts immediately. Homeowners can easily check property record exemption status or use the residential tax benefit verification system to track approval. Knowing how exemption affects property value assessment and the difference between assessed value and taxable value keeps your finances clear.

How to Apply for a Homestead Exemption

Filing for the El Paso County Assessor Homestead Exemption requires careful attention to detail. The county outlines specific submission methods to accommodate different resident preferences. You can choose to file digitally, mail your forms, or deliver documents in person. Each method requires the same baseline documentation to prove eligibility. Picking the right path depends on your comfort with technology and schedule.

Online Filing Options

El Paso County maintains digital portals for residents. Applicants can visit the official county website to start the process. The system requires a secure account creation using an email address. You will need your property tax account number found on previous statements. The interface prompts users through each screen in complete details. Uploading PDF copies of driver licenses and deeds happens directly in the browser.

1. Visit the official El Paso County assessor website.
2. Create a secure account using a valid email address.
3. Enter your property tax account number from previous statements.
4. Upload PDF copies of your driver license and property deed.
5. Click the submit button to start the verification process.

Filing by Mail

Sending documents through the postal service remains a valid option. Applicants must print the official state application form from the county site. Include clear photocopies of your government identification and property deed. Mail the packet to the El Paso County Assessor’s Office drop box. Certified mail provides proof of delivery and protects your submission. Processing begins the moment the office receives the physical envelope.

In Person Application Process

Residents can visit the Assessor’s Office located in Colorado Springs. The office sits on the second floor of the Citizens Service Center. Staff members hand out blank forms and offer immediate assistance with questions. Bring original documents and blank checks for any necessary copying fees. Clerks review your paperwork on the spot to catch simple errors. This face to face interaction prevents delays caused by missing signatures.

Application Review and Verification

Staff members examine every submission for accuracy. They check property records to confirm the applicant owns the home. Assessors cross reference state databases to validate age or disability claims. The verification step stops fraud and protects public tax funds. Workers might call applicants if documents show conflicting dates or addresses. Providing a daytime phone number on the form speeds up this phase.

Processing Timeframes

Standard applications take six to eight weeks for final approval. Peak season between January and March often causes slight delays. The county sends a formal letter to your mailing address upon completion. Checking your online portal shows real time updates during the waiting period. Applicants who submit incomplete packets face longer wait times. Prompt responses to office inquiries keep your file moving forward.

El Paso County Homestead Exemption Details

The El Paso County Assessor Homestead Exemption reduces the taxable value for primary residences. The state of Colorado subtracts a specific dollar amount from your actual home value. This reduction directly lowers the final tax bill sent by the county treasurer. The program applies only to the primary dwelling where the owner lives. Vacant land and rental properties do not qualify for this financial relief. The exemption locks in a baseline value to shield against sudden market spikes.

What the Homestead Exemption Is

The exemption acts as a legal shield against property tax increases. State law defines the exact parameters of this homeowner benefit. The local assessor applies the deduction to your specific property tax account. This adjustment happens before the treasurer calculates the final amount owed. Homeowners see the deduction listed clearly on their annual tax bill. The program strictly targets owner occupied dwellings rather than investment assets.

Purpose of Property Tax Relief Programs

Tax relief programs exist to keep housing affordable for vulnerable populations. Seniors on fixed incomes often struggle with rising property assessments. Veterans with disabilities face extra financial hurdles in daily life. The state legislature created these exemptions to stabilize neighborhood demographics. Keeping long term residents in their homes preserves community character. The financial burden shifts slightly away from those least able to pay.

How the El Paso County Assessor Administers Exemptions

The local assessor acts as the primary administrator for state exemption laws. The office maintains a database of all approved properties in the county. Staff members input approved exemptions directly into the tax billing software. The assessor does not set the exemption dollar amounts. State lawmakers determine the exact deduction values during legislative sessions. The local office strictly executes the rules established by state statute.

Available Property Tax Exemption Programs in El Paso County

Several distinct programs operate under the assessor’s oversight. The senior exemption serves residents aged 65 and older. The disabled veteran exemption supports those injured during military service. Gold star spouses receive benefits if their partner died in active duty. Each program carries unique requirements regarding income and disability ratings. Applicants must choose the specific program matching their life situation.

Benefits of the Homestead Exemption

Securing a homestead exemption delivers direct financial advantages to qualified homeowners. The most obvious benefit appears as a lower tax bill each November. The program protects primary residences from certain legal judgments. It secures long term tax relief for aging populations in the county. These benefits encourages eligible residents to apply.

Property Tax Savings Opportunities

Approved exemptions translate directly into cash savings every year. The state exempts a percentage of the actual value from taxation. A $50,000 reduction on a home valued at $400,000 drops the taxable base significantly. Local mill levies apply only to the reduced amount. Homeowners keep more money in their bank accounts each November. These savings compound over decades of home ownership.

Protection for Primary Residences

The exemption signals that the property serves as your main home. This designation protects the dwelling from certain creditor claims in Colorado. It establishes a clear record of your intent to occupy the house. The assessor flags the account to prevent it from being taxed as a rental. This classification secures your rights under state homestead laws. Future buyers see the property history as strictly residential.

Long Term Tax Relief for Qualified Homeowners

Once approved, the senior exemption remains active for life. You never need to reapply as long as you stay in the same house. This continuity provides predictable housing costs despite inflation. Property values may rise, yet the exemption keeps a portion shielded. The stability helps retirees budget their fixed monthly incomes. Passing the initial review guarantees decades of annual savings.

How Exemptions Affect Property Tax Calculations

Tax bills multiply the taxable value by local mill levies. The exemption reduces the taxable value before the multiplication happens. A lower taxable value yields a lower final payment owed to the county. The basic formula involves actual value minus exemption amount equals taxable value. The county treasurer sends bills based on this final calculated figure. Knowing this math helps homeowners anticipate their annual dues.

Homestead Exemption Eligibility Requirements

Submitting paperwork for the El Paso County Assessor Homestead Exemption demands specific proof. The state enforces strict rules to prevent fraud and improper tax deductions. Applicants must meet age, ownership, and residency benchmarks to qualify. The assessor verifies every data point against official government records. Failing one criterion results in an automatic rejection of the application.

Primary Residence Requirement

You must live in the home as your main dwelling. The law excludes vacation cabins and rental units from qualification. The assessor checks utility bills to confirm regular occupancy. Voters registration cards serve as proof of your local address. You cannot claim an exemption on a house you visit only twice a year. The home must anchor your daily life and routines.

Ownership Requirements

The applicant’s name must appear on the recorded property deed. Joint owners can apply together to meet the program criteria. Trust structures require specific documentation proving the beneficiary lives in the home. The county rejects applications from people holding mere lease agreements. You must hold legal title to the real estate to qualify. Title companies provide the official documents verifying this ownership status.

Occupancy Requirements

Colorado law mandates a minimum residency duration before claiming relief. Seniors must occupy the home for ten consecutive years prior to applying. The ten year clock starts on the date recorded on your deed. Brief vacations do not interrupt the continuous occupancy requirement. Moving away for six months resets the timeline completely. You must prove physical presence within the dwelling throughout the decade.

One Exemption Per Qualified Residence

State law permits only one active exemption per physical address. A husband and wife cannot claim two separate exemptions on the same house. If a couple divorces, the remaining occupant keeps the active exemption. Owners of several properties must select their primary dwelling for the benefit. Attempting to claim relief on two homes constitutes tax fraud. The system cross references addresses to prevent double dipping.

Eligibility Verification Standards

The assessor enforces strict standards to validate every claim. Staff members compare submitted IDs against recorded deed names. They verify age through birth certificates or driver license expiration dates. Veteran claims require official disability rating letters from the VA. The verification process relies on objective government documentation. Subjective statements or personal affidavits rarely satisfy the proof standards.

Reasons Why Applications Are Denied

Applicants face rejection for several common mistakes. Failing to meet the ten year occupancy rule triggers immediate denial. Submitting an application for a non primary rental property results in rejection. Missing the annual September filing deadline voids the entire submission. Discrepancies between the deed name and the application name cause delays. Incomplete forms without signatures end up in the rejection pile.

Types of Property Tax Exemptions Available

El Paso County administers several distinct property tax relief programs. Each program targets a specific demographic facing unique financial challenges. The state legislature mandates these exemptions and dictates the exact value removed. Residents can apply for the program that matches their current life situation. The options helps applicants choose the correct form.

Senior Property Tax Exemption

Colorado grants a specific break for residents aged 65 and older. The program exempts 50 percent of the first $200,000 of actual value. This calculation results in a maximum exemption of $100,000. The state legislature must fund this program annually through the budget. When funded, the savings appear directly on the tax bill. Applicants must meet the age and ten year residency tests.

Disabled Veteran Exemption

Veterans with a permanent disability rating receive substantial tax relief. The VA must assign a 100 percent disability rating for qualification. The exemption matches the senior program at 50 percent of the first $200,000. Surviving spouses of fully disabled veterans can inherit this benefit. The state covers the lost tax revenue to local districts. This program honors the severe sacrifices made during military service.

Gold Star Spouse Benefits

Spouses of military members who died in the line of duty receive exemptions. The benefit mirrors the disabled veteran tax relief structure. The surviving spouse must occupy the home as a primary residence. Remarriage terminates the eligibility for this specific program. The exemption applies to the first $200,000 of actual value. The state issues a certificate to prove gold star status.

Additional Property Tax Relief Programs

The state offers deferral programs for seniors facing cash flow issues. The deferral lets seniors postpone paying property taxes until the home sells. The state pays the county and places a lien on the house. Interest accrues on the deferred amount at a low rate. This program prevents elderly residents from losing homes to tax foreclosure. It functions as a loan rather than an outright exemption.

Comparison of Available Exemptions

Required Documents for Homestead Exemption Applications

Gathering the correct paperwork proves your legal right to tax relief. The assessor demands specific documents to verify every claim. Missing or faded documents cause immediate delays in processing. Applicants should organize their files before starting the application. Clear copies guarantee a smooth review process.

Proof of Ownership

You must provide a copy of the recorded warranty deed. The document shows the legal description and the official recording date. The county clerk stamps the deed with a unique book and page number. Title insurance policies serve as valid substitutes if the deed is lost. Purchase contracts do not prove legal ownership for tax purposes. The assessor needs the official county record to verify the title.

Proof of Primary Residence

Applicants must prove they physically live in the home. Recent utility bills in the applicant’s name serve as strong evidence. Voter registration cards linked to the property address work well. Current Colorado driver licenses showing the exact street address confirm residency. Bank statements delivered to the house monthly demonstrate continuous occupancy. The assessor looks for official mail tying the person to the place.

• Recorded warranty deed showing legal ownership
• Recent utility bills matching the property address
• Valid Colorado driver license or state ID card
• VA disability letter for veteran applicants
• Military casualty report for gold star spouses

Government Identification

A valid government issued photo ID verifies the applicant’s identity. A Colorado driver license stands as the most common form of proof. A state identification card works for seniors who no longer drive. Passports verify identity but do not prove local residency alone. Military identification cards work for veterans applying for the disabled exemption. The photo must match the person submitting the paperwork.

Supporting Eligibility Documentation

Senior applicants need no extra documents beyond age and residency proof. Disabled veterans must include a VA letter stating the 100 percent rating. The letter must show the rating as permanent and total. Gold star spouses need a military casualty report or official death certificate. Bringing original documents to the office lets staff make certified copies. These supplementary papers prove you meet the specific program criteria.

Documentation Review Tips

Check every copy for legibility before submitting the packet. Faded receipts and blurry photocopies cause processing delays. Make sure names match exactly across all submitted paperwork. Ensure the addresses on your ID and utility bills match the deed. Paperclipping documents in the order listed on the checklist helps reviewers. Neat submissions move through the queue faster than disorganized stacks.

After Your Application Is Approved

Securing the El Paso County Assessor Homestead Exemption alters your annual tax obligations. The approval triggers a sequence of updates to your property record. The county applies the deduction to your specific tax account. Homeowners receive official confirmation through the mail. Monitoring your tax bill ensures the savings appear correctly.

When the Exemption Takes Effect

Approved applications take effect on the next property tax cycle. If you apply by September 1, the savings apply to taxes due the following year. The county updates the tax roll to reflect the new taxable value. The treasurer prints a revised tax bill showing the reduced amount. You will see the line item “Senior Exemption” on the statement. The timing aligns perfectly with the standard county billing schedule.

How to Verify Approval Status

Residents can check their status through the county assessor portal. Enter your schedule number or street address into the search bar. The property record displays an exemption tab if approved. The portal updates every Monday with the previous week’s approvals. The formal mailed letter confirms the final decision for your records. Calling the office during business hours provides verbal confirmation if needed.

Reviewing Assessment and Tax Records

The exemption alters your official property assessment profile. The actual value remains the same, but the taxable value drops. You can view this distinction on the annual Notice of Value. The notice arrives in the mail every May before the tax bills generate. Reviewing this document guarantees the county applied your exemption correctly. Mistakes caught in May can be fixed before November bills go out.

Maintaining Eligibility Requirements

Keeping your exemption requires ongoing compliance with state rules. You must continue living in the home as your primary residence. You cannot rent the property to tenants for more than a few months. Moving to a nursing home temporarily might pause the benefit. Selling the house immediately terminates the exemption on that specific date. You must notify the assessor if your living situation changes drastically.

Situuations That May End Eligibility

Several life events trigger the loss of your tax benefit. Selling the property to a new owner voids the current exemption. Renting the house to a non family member for a year ends the status. A disabled veteran who improves to less than 100 percent rating loses the benefit. A surviving gold star spouse who remarries must drop the claim. Death of the sole applicant ends the tax relief permanently.

Renewal and Exemption Maintenance

Maintaining an active exemption requires minimal effort for most residents. The county simplifies the renewal process to prevent eligible seniors from losing benefits. Homeowners must stay proactive regarding address changes and ownership updates. Ignoring renewal notices leads to an automatic suspension of the tax break. Keeping records current protects your financial interests long term.

Automatic Renewal Rules

The senior and disabled veteran exemptions renew automatically every year. The county sends a postcard in January to confirm your current address. You simply sign the card and return it if nothing changed. No new application or document submission is required for returning residents. The system keeps the deduction active as long as you occupy the home. This automatic process removes the stress of annual reapplication.

Reapplication Requirements

Certain situations force residents to file a fresh application. Moving to a new primary home requires starting the process over. The ten year residency clock resets when you purchase a different house. If your previous exemption lapsed due to renting, you must reapply upon returning. A break in disability status followed by a reinstatement requires new VA letters. The assessor treats these events as entirely new claims.

Address Changes and Residency Updates

Keeping your mailing address current prevents missing critical notices. You can update your mailing address online through the assessor portal. Submitting a change of address form by mail works for paper filers. The physical property address cannot change without triggering a new application. If you move within the county, you must apply for the new house. Forwarding mail through the post office does not update county tax records.

Ownership Changes and Transfers

Including a spouse to the deed does not usually disturb an active exemption. Transferring the property into a revocable living trust often preserves the benefit. Selling the home to a child triggers a reassessment and ends the current exemption. The new owner must qualify independently based on their own age and residency. Quitclaim deeds between spouses keep the exemption intact. Complex estate transfers require legal advice to protect tax status.

Updating Assessor Records

Property owners must actively communicate changes to the assessor. Failing to report a death or a move constitutes tax fraud. The county relies on property owners to maintain accurate public records. You can use the online portal to report changes in ownership status. Staff members investigate anonymous tips regarding properties operating as unregistered rentals. Accurate records keep the tax burden fair for all residents.

Filing Deadlines and Important Dates

The state enforces strict deadlines for all property tax exemption applications. Missing a deadline pushes your tax relief back by an entire year. The county does not accept late submissions under normal circumstances. Tracking these dates prevents unnecessary financial losses. Marking your calendar ensures you submit your packet on time.

Annual Application Deadlines

The state mandates a strict filing window for new applications. Applicants must submit forms by September 1 to receive benefits the following year. The window opens on January 1, giving residents nine months to prepare. Mailed applications must carry a postmark dated on or before September 1. Hand delivered packets must reach the office by 5:00 PM on the deadline day. Late submissions push the benefit start date back an entire year.

Late Filing Rules

The county assessor cannot accept late homestead exemption applications. State law provides no grace period or extension for missing the September date. A natural disaster might prompt emergency legislation, yet this rarely happens. Residents who miss the deadline must wait until the next January to apply. They lose out on a full year of potential savings. Missing the deadline remains the most common applicant error reported.

Correction Periods

Applicants can fix minor errors within a specific timeframe. If the assessor rejects a form for a missing signature, you have ten days to correct it. The county sends a deficiency letter clarifying the exact problem. Returning the corrected form within the ten day window keeps your original filing date. This courtesy extension prevents simple clerical mistakes from causing a full year delay. Acting quickly on deficiency notices saves your application status.

Appeal and Review Deadlines

Residents disagreeing with a denied application can request a review. The appeal must reach the assessor within 30 days of the denial letter. The appeal requires written justification and any missing supporting documents. An independent panel reviews the appeal and issues a final ruling. Decisions made by the appeal board stand for the current tax year. Unsuccessful appellants must wait for the next cycle to reapply.

Application Denials and Appeals

Receiving a denial letter does not mean the end of your tax relief journey. The county provides formal channels to dispute rejected applications. The appeal process gives residents a second chance at approval. You must present clear evidence to overturn the initial decision. The system balances strict state laws with a fair review mechanism.

Major Denial Reasons

Applications fail for a handful of predictable reasons. The ten year residency rule catches many new retirees moving into the state. Renting the primary home to a tenant for a year invalidates the claim. Submitting an application for a vacant lot yields an immediate rejection. Failing to provide a valid Colorado ID halts the verification process. The assessor publishes a list of common errors to help future applicants.

Missing or Incomplete Documentation

Incomplete packets represent the easiest problem to fix. Forgetting to include a copy of the property deed stops the review. Failing to attach the VA disability letter voids veteran applications. Unsigned forms get returned to the sender without processing. The county requires a wet signature or a verified digital signature. Checking the packet against the official checklist prevents these basic errors.

Residency Verification Issues

Residency disputes occur when documents show conflicting addresses. A driver license listing an old address creates immediate suspicion. Utility bills under a roommate’s name fail to prove the applicant lives there. The assessor might request several forms of proof if conflicts arise. Voters registration must match the exact property address on the deed. Resolving these conflicts requires updating records with the Department of Motor Vehicles.

Requesting a Review

A simple review request differs from a formal appeal. You can ask a senior staff member to re examine the file. This informal review often resolves simple misunderstandings or clerical errors. Providing a single missing document during the review reverses the denial. The informal review period lasts two weeks from the denial date. Most valid applications get approved during this second look phase.

Filing an Appeal

Formal appeals move to the Board of Equalization. You must write a letter stating why the denial was incorrect. Include clear copies of all evidence proving your eligibility. The board schedules a brief hearing where you present your case. A hearing officer listens to your argument and asks specific questions. The board mails a written decision within 30 days of the hearing.

Homestead Exemption Mistakes

Applicants make several preventable mistakes during the filing process. These errors cost homeowners thousands of dollars in lost tax relief. Recognizing these pitfalls helps you submit a flawless application. Avoiding common blunders guarantees your paperwork moves through the system quickly.

Missing Filing Deadlines

Procrastination costs homeowners thousands of dollars over time. Waiting until August to gather documents creates unnecessary panic. Mailing the packet on August 31 risks postal delays past the September 1 cutoff. Early filing in January or February provides ample time to fix errors. The online portal stays open 24 hours a day for convenience. Submitting early locks in your priority for processing queues.

Assuming Eligibility Is Automatic

Many seniors believe the county knows their age and grants the discount. The assessor does not automatically apply the exemption without a formal request. Reaching age 65 triggers nothing without a signed application on file. Veterans must actively claim the benefit through the county office. Tax relief requires direct action from the property owner. Hoping for a lower tax bill leads to disappointment in November.

Submitting Incomplete Information

Leaving sections blank on the application form guarantees a delay. Omitting the property schedule number forces staff to search records manually. Missing phone numbers prevent clerks from resolving quick questions. Filling out the form in pencil makes copies illegible. Every field on the state application exists for a specific reason. Answering every question completely secures a smooth review process.

Failing to Report Ownership Changes

Homeowners try to keep exemptions after moving out of the property. Keeping the discount on a house converted into a rental is illegal. The assessor tracks sales through monthly title company reports. Failing to notify the office about a sale triggers a back tax bill. The county can charge penalties and interest on improperly avoided taxes. Honesty regarding ownership changes protects your financial standing.

Not Updating Residency Information

Snowbirds spending six months in Arizona risk losing their Colorado status. The primary residence must remain the place you return to live. Failing to update a mailing address means you miss the annual renewal postcard. If the postcard returns undelivered, the county suspends the exemption. Keeping the assessor informed of where you receive mail prevents accidental cancellation. Maintaining clear residential ties secures your tax benefits.

Frequently Asked Questions

The Homestead Exemption El Paso county assessor program gives homeowners real savings on yearly tax bills. First, this residential tax reduction program lowers the taxable value of your primary residence. Next, you secure primary residence tax relief right away. Many homeowners face steep bills. Instead of paying full price, this owner occupied property exemption cuts those costs. Then, you file through the assessor exemption application system to get your property tax savings. Finally, you keep more money in your pocket every single year. Apply early to maximize your residential exemption benefits.

What is the Homestead Exemption El Paso county assessor offers homeowners?

The Homestead Exemption manages lowers your property tax bill. First, you get a straight deduction from your primary residence assessed value. For example, a $50,000 deduction means you pay taxes on a much smaller amount. Next, you must occupy the home as your main residence. You cannot claim this break on rental properties or second homes. Then, homeowners see real savings immediately on their annual bills. Finally, you apply one time. Later, the exemption stays active every year afterward.

How do you qualify for the primary residence tax relief program?

You qualify for the primary residence tax relief program by meeting simple rules. First, you must own the home. Next, you must live in that home as your primary residence before January 1 of the tax year. You must reside there full time. Then, you must be a Colorado resident. Later, gather your driver license, vehicle registration, and voter registration to prove residency. Finally, the county assessor exemption records team checks these documents closely. Submit your application online or by mail to start saving money on your taxes.

What documents prove residency for the owner occupied property exemption?

You need clear documentation for homestead exemption approval. First, the assessor office exemption processing team requires proof of identity and residency. Next, submit a copy of your Colorado driver license showing the home address. Then, include your current vehicle registration in El Paso County. Meanwhile, add your voter registration card. You might send a recent utility bill in your name. Finally, these documents prove your property ownership occupancy requirement. Send copies, not originals, through the online homestead exemption application portal.

When is the filing deadline exemption property tax in El Paso County?

The filing deadline exemption property tax rules state you must apply by March 1. First, the El Paso County assessor accepts late filings under specific conditions. Next, if you bought a new home, you file by March 1 the following year. Then, late filing exemption penalty rules apply if you miss this date without a valid reason. Instead of waiting, submit your assessor exemption application system forms early. Finally, early filings give the assessor time to fix any errors. You avoid penalties and start saving money faster.

Why was my homestead exemption denied and how do I appeal?

The assessor denies applications for a few clear reasons. First, you might not live in the home full time. Next, you might own the property under a different legal name. Then, missing the filing deadline causes denials. Instead of giving up, you can fight back if you face exemption denial reasons property tax officials issued. Later, file an appeal for exemption rejection within thirty days. Finally, submit new proof showing you meet the homeowner occupancy verification steps. The assessor reviews your new evidence and makes a final decision quickly.

How does the assessed value reduction program affect my property taxes?

The assessed value reduction homestead exemption lowers your taxable base. First, your local tax jurisdiction exemption adjustment sets a flat deduction amount from your home value. Next, you pay taxes only on the smaller taxable value. Then, this property tax calculation after exemption directly shrinks your yearly bill. Later, check your county assessor exemption database lookup to see your new taxable amount. Finally, you keep more money each year thanks to this residential property tax break. Review your property record exemption status online anytime.