The Property Tax Exemption Act

The exemption-act">Property Tax Exemption Act allows certain individuals or properties to be exempt from paying property taxes, which are fees collected by local governments based on the value of real estate. This exemption typically applies to specific groups, such as veterans, low-income families, or non-profit organizations. The goal is to alleviate financial burdens and promote social equity. By reducing or eliminating property taxes for eligible entities, the Act helps ensure that essential services and housing remain accessible to those who might struggle to afford them. Each jurisdiction may have different criteria and application processes for these exemptions.