Will I still be eligible for the Homestead Exemption if I’ve put my property in a Trust?

If the trust is irrevocable in nature, the legal and equitable title to the real property has been transferred to the trust and this cannot be reversed.  Under the terms of this type of trust, the original property owners typically relinquish their ownership rights to the real property and when this is the case, no homestead exemption can continue to be granted.  However, if the trust states that there is an exclusive rent-free use arrangement of the residence retained for the lifetime of the owner and that all expenses related to the residence continue to be the responsibility of the original owners, then the homestead can be granted.  The PVA Office is happy to review trust agreements to determine eligibility.

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1. How do they come up with an assessment?
2. Why did my assessment go up this year?
3. Why does the person down the street with all the land have a lower value than mine?
4. If I buy property after January 1, when will I get a tax bill?
5. Why can't I appeal my property value when I get my tax bill?
6. What is the tax rate of an address?
7. I bought my house in July for less than what the tax bill says. Why do I have to pay the higher amount?
8. My neighbor next door gets a reduction in his taxable value. Why don't I?
9. What is the amount for the Homestead / Disability Exemption?
10. Can I get the Homestead/Disability Exemption for commercial property?
11. Will I still be eligible for the Homestead Exemption if I’ve put my property in a Trust?