Taxes- In general, takes are broken down into two brackets. Second homes and investment property are taxed at 6% and primary residents are taxed at 4%. To be eligible for the 4% rate you must qualify and be approved for the 4% Legal Residence exemption. Primary residents also receive some additional tax credits that further reduce your tax bill such as the property tax relief credit, which discounts the school operating tax from your tax bill. Additionally, if you are over 65 years of age, or certified totally and permanently disabled or blind, you may qualify for the Homestead Exemption. Up to the first $50,000 of your home’s appraised value could be totally exempt from taxes.