The Tax Exemption Program for Senior Citizens and People with Disabilities reduces your property tax liability. You do not need to repay these taxes.Applications for the expanded Property Tax Rent Rebate are now open. See if you're eligible and apply now: pa. The amount of money you will receive is based on your income. Persons who are at least 65 years of age and meet certain income limits will be eligible for an increased homestead exemption. Rebates were available for taxes paid during Tax Year 2023. Get IRS tax news and sign up for e-News updates. Find information on Form 1040, tax relief, regulations, deadlines, tax guidance and more. Any change in ownership may reset the assessed value of the property to full market value, which could result in higher property taxes.