Which requirement must be met to obtain a poverty exemption?

To qualify for a poverty exemption, property owners must meet specific criteria that demonstrate financial hardship. One of the key requirements is that the individual must own and occupy the property as their homestead. This means that the property in question must be the primary residence of the applicant. The purpose of this requirement is to ensure that the exemption is granted to those who truly need assistance in maintaining their primary residence, rather than to investors or individuals who do not use the property as their main living space.

The focus on ownership and occupation emphasizes the importance of providing relief to residents who are financially struggling to afford their homes, making it a fundamental condition of the exemption process. Additionally, this ensures that the intent of the poverty exemption — to support low-income homeowners — is upheld, allowing those who genuinely reside at the property to benefit from this financial assistance.