Though all property is assessed, not all of it is taxable.
Some properties, such as those owned by religious organizations or governments are completely exempt from paying property taxes.
Others are partially exempt, such as veterans who qualify for an exemption on part of their homes, and homeowners who are eligible for the School Tax Relief (STAR) program.
Most exemptions are offered by local option of the taxing jurisdiction (municipality, county or school district). Check with your assessor to determine what exemptions are available in your community.
These are some of the most common property tax exemptions:
Full list of property tax exemptions
Exemption reporting requirements for taxing jurisdictions