ExemptionsHOMESTEAD EXEMPTIONSSPECIALIZED AND PREFERENTIAL ASSESSMENT PROGRAMSFREEPORT EXEMPTIONLOCAL EXEMPTIONSAPPEALSLOCAL EXEMPTIONSLocal Homestead Exemption is increased from $2,000 to $5,000 for County and School M&Otaxes.Local School Exemption – Persons age 62 or older with a combined total gross income of$25,000 or less from all sources of everyone living on the property qualify for a total exemptionfrom School M&O taxes