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Eligibility of Property Held in Trust

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Frequently, persons place their domiciles in trust, most often for estate planning purposes. In those cases, the assessors must determine whether the person has a sufficient ownership interest in that property to qualify for a property tax exemption. 

This is a guideline to establish ownership for property held in Trust, for exemption purposes only.

EXEMPTION ELIGIBILITY OF PROPERTY HELD IN TRUST

Applicants who's property is held in Trust, must submit the following along with the Application for Tax Exemptions.

  • A copy of the entire Declaration of Trust, including the Schedule of Beneficiaries.
  • A copy of any amendments made to the Trust and or Trustees.
  • A copy of any amendments made to the Schedule of Beneficiaries.

Please note: The complete Declaration of Trust, Schedules and any Amendments, should be recorded at the Registry of Deed, for those seeking an exemption.

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