property tax exemptions

Property tax exemptions refer to the specific exclusions or reductions in property taxes that certain property owners may be eligible for. These exemptions are usually granted by governing authorities, such as local governments or municipalities, to provide relief or incentives to certain individuals or organizations. The exemptions are typically based on qualifying factors, such as the owner's age, income level, or the specific use of the property (e.g., for charitable or nonprofit purposes). By granting property tax exemptions, authorities aim to encourage certain behaviors or support social welfare initiatives, while also potentially reducing the overall tax burden on eligible property owners.

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