Jefferson County has announced an unprecedented extension to claim the property tax freeze exemption. The exemption freeze period will be valid for 2022 or 2023, depending on which tax year benefits the taxpayer the most. Put simply, this means your property tax value will be frozen at the lowest value when comparing 2022 and 2023 values. This extension is exclusively for taxpayers who meet the following requirements:
- Must be 65 years of age or older.
- Must be your primary residence.
- Must be assessed in the taxpayer’s name for a period of 5 consecutive years prior to claiming.
- The period to make a claim will be extended until 12/31/2023.
If you have not already made this election, you have until 12/31/2023 to file. The tax assessor will allow you to file for the exemption in person, by email at firstname.lastname@example.org, or by fax to 205-325-5297. Each year, the renewal will be completed when you submit the over 65 exemption renewal form.
Click on this link for the required form: Special Senior Exemption Form
For more information, click on: Letter to Taxpayers
Please contact your tax or financial advisor with any questions.
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Stewart H. Welch, III, CFP®, AEP, is the founder of THE WELCH GROUP, LLC, which specializes in providing fee-only investment management and financial advice to families throughout the United States. He is the author or co-author of six books, including 50 Rules of Success; J.K. Lasser’s New Rules for Estate, Retirement and Tax Planning- 6th Edition (John Wiley & Sons, Inc.); THINK Like a Self-Made Millionaire; and 100 Tips for Creating a Champagne Retirement on a Shoestring Budget. For more information, visit The Welch Group. Consult your financial advisor before acting on comments in this article.
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