In Florida, you might be delighted to learn that the state reduces the taxable value of your main home by up to $50,000. This exemption is available to all homeowners, as long as the property is your primary residence.
People who are 65 years old or older get an extra $50,000 exemption. This is on top of the regular exemption.
Texas
In Texas, seniors aged 65 or older qualify for an extra $10,000 homestead exemption beyond the standard $100,000 homestead exemption. This means if you’re in this age group, you could see your taxable property value drop by at least $110,000.
Turning 65 in Texas comes with a perk: a “senior freeze” on your school district taxes. This cap means no more tax increases on your current home—unless you decide to upgrade it significantly.
Texas seniors can also benefit from local tax exemptions and tax reductions offered by county commissioners courts, city councils, and junior college districts.
Wyoming
Wyoming recently introduced House Bill 3, which went into effect on January 1, 2024 and expires on July 1, 2027. If you’re over 65 and have been a Wyoming homeowner for 25 years, with this new bill, you get a 50% exemption on property taxes. This generous break applies to your home and up to 35 acres of land. Just make sure you live there at least eight months in a year.
Wyoming also caps school district taxes for seniors aged 65 or older. Even better, this cap stays with you, transferring to any new primary residence you move into within the state. Say your original tax ceiling was 25% of total taxes before, you’ll only pay 25% of total taxes at your new place.
