Homestead property valuation shall be frozen by the County Assessor if the following conditions exist:
- The property owner must be age 65 or over as of January 1st to qualify.
- The gross household income from all sources (including all persons residing in the home), except gifts, does not exceed $64,500 for 2016. The income amount is determined by the U.S. Department of Housing and Urban Development for Canadian County.
- Property must be a valid homestead property with proper evidence of a homestead or an application. The freeze applies only to the homestead property used as your primary residence and may not be applied to non-homestead property.
The Senior Freeze freezes the valuation of your property; it does not freeze your taxes. Even if your property valuation stays the same, your property taxes may go up or down depending on the tax rate or millage levies for that year.
- Apply in person in the Assessor's office between January 1st and March 15th. No applications will be accepted after March 15th. Bring proof of all household income with you such as W-2s, 1099s, or a copy of your most recent federal income tax return.
For more details click here
for the state publication on the Senior Freeze.