Older homeowners living on a fixed income have a higher chance of seeing their finances destabilized by rising costs, and that can be particularly true of something like property taxes.

For homeowners who have either a forward or reverse mortgage on their home, these costs also must be paid in order to keep the loan in good standing.

But some states are embracing programs that allow for property tax refunds if a homeowner meets specific requirements. More often than not, one of these requirements is a minimum age that classifies someone as a senior.

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