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Real property tax deferrals and exemptions are allowed for senior citizens and disabled taxpayers. Personal property is also taxed, although most personal property owned by individuals is exempt.
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Reverse Mortgages. A loan is accessible to people over 62 years of age. It allows the homeowner to borrow or convert part of the equity in the home for cash. Reverse mortgages help seniors with limited income to apply monies for assisted living expenses, to pay off debts, to cover other essential living expenses or to pay for health care. No restrictions apply to using the proceeds from a reverse mortgage.
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