What is the property tax exemption percentage for senior citizens in Guam?

In Guam, senior citizens are entitled to a property tax exemption that significantly benefits them and encourages community support for elderly residents. The exemption amount is set at 80% of the assessed value of the property for those who qualify as senior citizens, typically defined as individuals aged 65 and older. This means that eligible seniors only pay property taxes on 20% of their property's assessed value, which can lead to substantial financial savings.

This exemption is designed to alleviate the financial burden of property taxes for older residents, acknowledging their contributions to the community and helping them maintain their homes. Offers like this are common in many jurisdictions as a means of supporting the aging population. The other options represent lower percentages that do not reflect the actual benefit provided in Guam, as the law specifically designates the 80% exemption as the authorized amount for qualifying seniors.