How can I calculate my property tax savings resulting from the Senior or Disabled Veteran Property Tax Exemption?

To calculate the amount of the reduction for your property: 

  1. Multiply the amount of the appraised value subject to exemption as established by the legislature by .50 (50%). As of 2020, the amount subject to exemption will be either $200,000 or the total actual value of your home, whichever amount is lower. 
  2. Multiply the result by .0715 (7.15%) (this is the estimated assessment rate, again, this is set by the State Legislature annually). 
  3. Multiply this result by .095 (95 mills which is a typical levy in Jefferson County, these levies are set annually by the taxing authorities involved, i.e. the school district, fire district, etc.) 
  4. The result will be your tax savings from the exemption.

Show All Answers

1. Who is eligible for the Disabled Veteran Property Tax Exemption?
2. Who is eligible for the Senior Property Tax Exemption?
3. How do I apply for the Disabled Veteran Property Tax Exemption?
4. How do I apply for the Senior Property Tax Exemption?
5. How much is the Senior or Disabled Veteran Property Tax Exemption?
6. I applied for the Senior Property Tax Exemption previously. Do I have to apply again?
7. How can I calculate my property tax savings resulting from the Senior or Disabled Veteran Property Tax Exemption?