You might qualify for any of five exemptions:

• General Homestead Exemption (GHE): This exemption reduces $5,000 off the equalized assessment causing you to pay taxes based on the lower assessment.
  
  
• Home Improvement Exemption (HIE):  An improvement added to your existing structure may qualify for an exemption up to four years based upon Market Value of said improvement and is limited to $25,000 of assessed value.
  
  
• Senior Citizen Exemption (HEX/65+): This exemption takes $3,500 off the equalized assessment causing you to pay taxes based on the lower assessment.
  
  
• Senior Citizen Assessment Freeze (SAF): This exemption freezes your assessment at a base year, causing your assessment not to increase. This does not freeze your taxes; only your assessment.
  
  
• Senior Citizen Real Estate Tax Deferral Program (STD): This program allows qualified senior citizens to defer part or all of the property taxes on their personal residence. It's a form of a loan with a six percent interest rate, which is to be repaid after the taxpayer’s death, or at the time the property is sold.