Senior Valuation Limitation (Property Valuation Freeze)
Who qualifies
- Age
- 65 or older
- Income
- Gross household income must not exceed the U.S. HUD-determined median family income for the applicant's county of residence (varies by county; reported around $90,300 for the 2026 tax year in some counties). Because the limit is county-specific, no single statewide dollar figure applies.
- Ownership
- Must qualify for the Homestead Exemption and own/occupy the property as of January 1.
- Residency
- Head of household age 65 or older as of January 1, owning and occupying the homestead.
How much it saves
No dollar estimate. This freezes your home's taxable value at the year you qualify, so savings grow over time and can't be stated as a single dollar figure.
How to apply
- Application required: Yes
- Deadline: File OTC Form 994 with the county assessor on or before March 15 (or within 30 days after a valuation-increase notice).
- Renewal: automatic — Once granted, the limitation continues without annual reapplication unless the owner ceases to qualify (income exceeds the HUD limit, or ownership/occupancy changes), which must be reported to the county assessor.
- Official application form
Combining with other exemptions
Applies alongside the Homestead and Additional Homestead exemptions; it freezes valuation rather than exempting a dollar amount of value.
Official sources:
Informational only — not legal or tax advice. Exemption rules and amounts are summarized from official statutes and state tax-agency sources as of each program's verified date and can change by legislative session. Dollar figures are estimates derived from Census ACS county tax data, not actual bills. Confirm your eligibility and current amounts with your county assessor before relying on anything here.