August 21, 2018

Deadline Approaching – Elderly & Disabled Assessment Freeze

The Freeze on Assessments Program prevents the homeowner’s property from increasing in value, for tax purposes. This means that as the value of the home increases, the homeowner will pay tax on the former (lower) value. Property is defined as the house, garage, and the lot upon which it sits, or one acre, whichever is less.

To qualify:

  • you must be 65 year of age or older, or disabled
  • you must own the home or have retained a life estate in the property
  • your federal gross income plus any income not included in that figure (this includes Social Security Payments) must be lower than:
    • $27,697.78 for single member household (2018 value, values change every year)
    • $34,622.21 for multiple member household  (2018 value, values change every year)
  • The full and true market value of the property must be less than $190,122.74 unless the applicant has received the assessment freeze in a preceding year on that property.

Form: Assessment Freeze for the Elderly & Disabled

Forms should be turned in to the Fall River County Treasurer on or before April 1st. The assessment freeze must be applied for yearly. Questions concerning applications and income should be directed to the Treasurer at 605-745-5145.