Property Tax Exemptions for 2025

Property Tax Season Is Here: A Look at Homestead Exemptions, Additional Exemptions, and Tax Freezes for Seniors

As the payment deadlines for the 2024 property tax season approaches, homeowners across the state are gearing up for an important opportunity to reduce their tax burden through homestead exemptions, additional homestead exemptions for low-income individuals and tax freezes for senior citizens who meet certain income guidelines. Now is the time to familiarize yourself with the available programs and take advantage of valuable savings.

Homestead Exemption

The homestead exemption is one of the most widely used programs, allowing homeowners to reduce the taxable value of their property. This exemption can provide up to $25,000 in savings for qualifying homeowners. To qualify, applicants must own and occupy the property as their primary residence as of January 1 of the tax year.

Additional Exemptions for Special Circumstances

In addition to the basic homestead exemption, there are opportunities for additional exemptions for homeowners in specific situations. These include exemptions for individuals with disabilities, veterans, and surviving spouses. The income limits for these exemptions may vary by jurisdiction, so homeowners should check their local rules for specific regulations.

Property Tax Freeze for Seniors

For senior citizens, the opportunity to freeze their property taxes is an incredible benefit. Homeowners 65 years and older can apply for a tax freeze, meaning their property taxes will not increase as long as they remain eligible. This program is particularly valuable for those on fixed incomes, as it offers long-term relief from rising property values.

Income Limits for Senior Exemptions
For seniors, the income limits to qualify for the property tax freeze or additional exemptions typically range from $30,000 to $50,000 in annual household income, depending on your county. It's essential to check with your local assessor’s office for specific thresholds and any other required criteria.

Important Application Dates

Applications for homestead exemptions, additional exemptions, and senior tax freezes are due by March 15 of each year. However, homeowners are encouraged to file early to avoid delays. In many cases, online applications are available, making the process quicker and more convenient.

Why Should Homeowners Act Now?

With tax rates fluctuating, the savings offered through these exemptions can have a significant impact on your annual budget. By filing your claim before the deadline, you ensure that you don’t miss out on potential savings for the upcoming year.

Local assessor’s offices and online portals are available to assist homeowners with the application process. Whether you’re a senior citizen, a veteran, or a homeowner just looking to reduce your tax bill, now is the time to explore these valuable opportunities and file before it’s too late.

For more information and to apply, visit your local county assessor’s website or call the office for personalized assistance.

The Ottawa County Assessor’s Office is located at 
102 E Central Ave # 102, Miami, OK 74354. 

918.542.9418 (phone) 
918.542.3273 (fax) bsmith@ottawa.okcounties.org (email)

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