Tax Exemptions

Homestead Exemption
This program provides a measure of property tax relief for certain individuals that have owned and made a primary residence of their property for at least twelve months prior to April 1st.  The exemption reduces the assessed value of the property by $15,000 which is adjusted by the assessment ratio.  Currently, Gray’s assessment ratio is 90% (on average, assessments are 90% of fair market value), therefore, the exemption – or reduction in assessed value is $13,500.  This means that if a property is valued at $100,000, with the exemption it would be assessed at $86,500.  At the current mil rate of $18.05 per $1,000 of assessed value, the homestead exemption will provide a savings of  $243.68 annually.

Please note: You only need to complete the Homestead Exemption form once for as long as you remain in your home. 

Veteran, Widow, Widower, Minor Child or Widowed Parent of a Veteran
A veteran who served during a recognized war period and is 62 years or older; or, is receiving 100% disability as a Veteran; or, became 100% disabled while serving, is eligible for a $5,400 reduction at the 90% asssessment ratio.  At the current mil rate of $18.05 per  $1,000 of assessed value, the veteran's exemption will provide a savings of $97.47 annually.

All applicants must provide DD214, and  proof of 100% disability if applicable.

Please note: The Veterans Exemption for age 62 and over does not need to be renewed annually as long as you retain ownership and primary residency in your home.  The Exemption for 100% disability requires that you submit annual proof that your disability status is unchanged.

All exemption forms must be delivered to the Tax Assessor at Town Hall no later than close of business (4 PM) on April 1st.

Poverty Assessment for Abatement of Property Tax

Blind Exemption
An individual who is determined to be legally blind receives a $4,000 exemption adjusted by the adjustment ratio.