Ask Question
5 August, 13:49

Emma, a 70-year-old widow living alone, has a fixed income of $11,000 per year from social security. If the local option homestead relief exemption exists in Emma's county of residence, Emma may be entitled to:

+5
Answers (1)
  1. 5 August, 13:57
    0
    Homestead exemption of $25,000, which is a standard deduction

    Explanation:

    Homestead exemption is the regime which is legal in order to protect the home values of the residents from the creditors, property taxes and the situations arise from the death of the spouse.

    In this case, Emma, is a widow and only has a fixed income of $11,000 per year, therefore, the exemption of the homestead allows a standard deduction of $25,000.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Emma, a 70-year-old widow living alone, has a fixed income of $11,000 per year from social security. If the local option homestead relief ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers