An "assessment freeze" is a property tax exemption that maintains your assessed value from the previous year. This means upon qualification (see next paragraph for who qualifies) the assessed value of your property on which you are taxed cannot increase. It is VERY important to understand that this, as is the case with ALL exemptions, does not mean your taxes cannot increase. Although the value on which your taxes are calculated is maintained, the tax rate itself may increase which, in turn, increases the amount you are taxed.
This is a property tax exemption that, upon qualification (see next paragraph for who qualifies) will REDUCE the assessed value of your property. Again, it is VERY important to bear in mind that this affects the value ONLY and not necessarily your tax rate or final tax bill.
Who qualifies. Must be owner-occupied property. At least one individual on deed must be 65 years of age within the current tax year. Household income does NOT apply. This is a one-time filing and need not be filed each year.