Residential Property Tax Relief Programs

[X] Gross household income is total household income plus all non-cash business expenses such as depreciation, amortization, depletion, and net operating losses. Total household income includes social security; interest/dividends; pensions/annuities; Supplemental Security Income (SSI); State Supplemental Program (SSP); Aid to the Totally Disabled (ATD); rental income/loss; gain/loss from sale of assets; wages, alimony, life insurance, unemployment insurance, worker's compensation for temporary disability, and public assistance and relief. In addition, participants may deduct the following amounts from their total household income: IRA contributions deduction, student loan interest deduction, medical Savings Account (MSA) deduction, moving expenses, and alimony paid from the total household income.

[X] For the purposes of this exemption, income does not include survivor or disability benefits under the Social Security Act. It also does not include public or private retirement, disability, or pensions.

[X] Eligible homeowners may select either Homestead Exclusion or Circuit Breaker Tax Deferment program. An otherwise qualifying owner does not lose the benefit of this exclusion because of a temporary absence from his or her permanent residence for reasons of health, or because of an extended absence while confined to a rest home or nursing home, so long as the residence is unoccupied or occupied by the owner's spouse or other dependent.

[X] At the time of payment, a lien will be recorded against the property in favor of the State of Michigan. The lien will be subject to interest at one-half of 1% (.05) per month or fraction of a month (6% per year), when repaid to the State. The lien will be removed when the deferment, plus interest, is repaid by the taxpayer or the taxpayer's estate.

[X] Income is defined as federal adjusted gross income, less deductions for certain medical and funeral expenses, business losses, early withdrawal penalties, and alimony. Income also includes social security and similar benefits, as well as most non-taxable income. The state tax commission shall file with the county recorder of the county in which the property is located a notice of lien for deferred property taxes. The lien for deferred taxes and interest shall not be a first and prior lien, but shall take its priority from the date and time of filing of the notice of lien. A deferral of property tax payments shall terminate on the earlier of: (a) voluntary payment of the full amount of deferred tax and interest to the state tax commission; (b) the death of the qualified claimant. In the case of more than one qualified claimant, the death of the last surviving qualified claimant; (c) a sale or other transfer of title to the property or any part of the property except a transfer of title to a surviving spouse of a deceased qualified claimant; (d) the property no longer qualifies for the exemption due to residential improvements; (e) a determination by the state tax commission that the deferral of property tax payments was erroneously granted to a person who is not a qualified claimant or in regard to property that is not qualified property.

[X] The benefit base and income eligibility amounts will be adjusted annually based on the annualized cost-of-living adjustments for Social Security retirement benefits, to be applied to the application period.

[X] Income eligibility limits shall increase annually by the maximum Social Security benefit cost of living increase. The director shall adopt new income limits annually by notice or regulation. Total income includes Social Security benefit and other retirement income. This is called the 2014 Reimbursement.

[X] Property held in trust, other than an Illinois land trust with the taxpayer identified as the sole beneficiary, is ineligible for this program when filing for the first time. Deferral amount is capped at $5,000 per taxpayer per year.

[X] Taxes become payable upon: (a) the death of a claimant; (b) when the property is sold or no longer inhabited as a homestead (unless reasons of health prevent the owner from occupying the property as a homestead); or (c) when the qualifying disability ends. If income rises above the eligibility threshold, the amount of taxes for which the deferral is allowed shall decline by $0.50 for every $1.00 of income above the threshold. The deferral may be continued after the property is condemned by the Department of Transportation.

[X] The maximum exemption is based on the allowed amount under federal benefits for veterans 38 USC § 2102.

[X] The state’s lien on the home is due and payable when the property is sold or transferred, except to a spouse, surviving spouse over age 60, or minor heir.

[X] Effective 9 October 2015, the combined disposable income for claimants in 2016 and subsequent collection years is increased to $40,000. This was enacted in 2015 Wash. 3rd Sp. Sess. Laws ch. 30 § 2 (SSB 5186). Excess levies are those additional property tax levies above the limits that are approved by vote of the people. Local school districts have no regular levy authority (although they are allocated funds from the statewide school levy) so they receive a substantial portion of their funding from voter-approved excess levies. Excess levies must be authorized by a 60% majority of the voters, except for school levies which only require a simple majority, and such levies are not subject to any of the limitations. If the person subsequently fails to qualify only for one year because of high income, this same valuation must be used upon requalification. If the person fails to qualify for more than one year in succession because of high income or fails to qualify for any other reason, the valuation upon requalification is the assessed value on January 1st of the assessment year in which the person re-qualifies.

[X] For the purposes of this exemption, household income includes retirement, survivor, or disability benefits under the Social Security Act above the maximum limit. It also includes any other public or private retirement, disability, or pension system.

[X] This program is subject to annual appropriation. “Totally disabled” means a person 18 years of age or older whose physical or mental condition permanently prevents the person from performing any substantial gainful employment during the 1 year period immediately preceding the date of application for a refund. In determining assets, the following property is exempt: (1) The structure and lands occupied as the applicant's primary residence; (2) household furnishings and personal belongings; and (3) one personal motor vehicle per adult in the household; (4) assets held under a bona fide pension plan or individual retirement account (IRA); (5) the cash value of any life insurance policies held.

[X] The following changes will be in effect for the 2014 tax year for returns filed in 2015: (1) the maximum eligible income will be increased to $60,000; (2) rent constituting tax will be increased to 20% of rent paid; (3) the credit will not exceed $1,000; and (4) four income brackets will be reduced to just one with a property tax to income ratio threshold at 3%; (5) the eligibility age will be increased to 70 years old. These changes were made through 2013 DC Sess. Acts no. 19-649 § 2 and 2015 Sess. Acts no. 20-155, § 7052(b) and will affect credits disbursed in 2015. The blind and disabled are no longer identified separately under this program but can apply for the Regular Circuit Breaker program.

[X] The statute was amended in 2009 to assure that the assessment freeze set out in Amendment 79 is applied to the lower assessed value.

[X] Property is revalued to full market value upon the sale or transfer of the property. If the owner is no longer eligible because income exceeds the HUD limit, the value of the property is then subject to the 3% cap increase for that year. Passage of ballot measure in the November 2012 election reduced the homestead growth limit to 3%. See tax limits for full description of limit.

[X] To receive this tax credit, taxpayers must have paid in full their property tax bill at the end of the tax year for which the credit was reported.

[X] Effective 1 January 2015, the homestead exemption is expanded to grant full exemption to veterans with a service-connected, total disability and unremarried surviving spouses from all ad valorem taxes on the assessed value of their homestead. This is now a separate program. This was enacted in 2014 Miss. Laws ch. 451 (HB 1165). Property owned jointly by a husband and wife and property owned in fee simple by either spouse is eligible for this exemption in full, as long as either spouse fulfills the age or disability requirement. For all other jointly owned property, the amount of the exemption is determined on the basis of each owner's qualifications and pro rata share of the property.

[X] For renters, property taxes are assumed to be 20% of rent if heat is included or 25% of rent if heat is not included in the rent. In computing household income, a claimant may deduct $500 for each dependent living with the claimant.

[X] The property may not be sold or transferred unless the taxes have been paid with interest. Upon the demise of the property owner, legal heirs have first priority to said property provided that they pay in full all back taxes and interest. If the heir is a surviving spouse, the spouse may enter into a tax deferral and recovery agreement with the board of assessors.

[X] The state’s lien on the home is due and payable when the property is sold or transferred, except to a spouse, surviving spouse over age 60, or minor heir.

[X] The property taxes and interest that are not collected may not exceed the value of the property upon which the taxes are imposed. Qualification for this program makes one ineligible for the Property and Sales Tax Refund program.

[X] Income levels are adjusted annually by the gross domestic product price deflator computed for the 2nd quarter of the calendar year by the Bureau of Economic Analysis of the United States Department of Commerce. Totally disabled means the inability to engage in any substantial gainful employment by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted or is reasonably expected to last for a continuous period of not less than 12 months. A person who is eligible to file a claim for credit for property taxes due with a household income in the lowest bracket who has an unpaid special assessment levied against the homestead may file a claim for a special assessment credit with the county treasurer. The claim filed by the claimant constitutes a claim for credit of an amount equal to the actual amount due upon the unpaid special assessment, plus interest, payable during the fiscal year for which the claim is filed against the homestead of the claimant.

[X] For the purposes of this exemption, household income includes retirement, survivor, or disability benefits under the Social Security Act above the maximum limit. It also includes any other public or private retirement, disability, or pension system.

[X] Towns in this program include Hopkinton, West Warwick, Exeter, Coventry, Bristol, Tiverton, North Smithfield, and Providence.

[X] The maximum exemption is based on the allowed amount under federal benefits for veterans 38 USC § 2102.

[X] Although the state calls this program a circuit breaker, the benefit does not vary by income, therefore, it is not a true circuit breaker.

[X] Property is revalued to full market value upon the sale or transfer of the property. If the owner is no longer eligible because income exceeds the HUD limit, the value of the property is then subject to the 3% cap increase for that year. Passage of ballot measure in the November 2012 election reduced the homestead growth limit to 3%. See tax limits for full description of limit.

[X] Effective 29 February 2016, income amounts for refunds adjusted. Enacted by 2016 S.D. Sess. Laws ch. 60 § 4, 5

[X] The deferral must be paid back in the following situations: 1) if the claimant dies, unless the continuing spouse elects to continue the deferral; 2) if the property is sold or the title is transferred; 3) if the taxpayer moves for reasons other than ill health; 4) if the taxpayer begins to rent the property or otherwise receives income from it; 5) if the location of the tax-deferred mobile home has moved either within the county or to another county; or 6) if the mortgage, deferred taxes, and accrued interest exceed the market value of the real property. The actual value of the property is the most recent appraisal by the county assessor as of the time the claim for deferral is submitted to the county treasurer.

[X] Homeowners may qualify for the exemption on a replacement homestead if they met the 10 year residency requirement on the previous homestead which was destroyed by natural disaster or was claimed by the government via eminent domain. No more than one exemption can be allowed per single dwelling unit of residential property. Eligible residence includes property has been purchased by or transferred to a trust, a corporate partnership, or any other legal entity solely for estate planning purposes and is the maker of the trust or a principal of the corporate partnership or other legal entity; Applications must be filed before July 15th. Forms are available beginning in January but not after August 15.

[X] The benefit base and income eligibility amounts will be adjusted annually based on the annualized cost-of-living adjustments for Social Security retirement benefits, to be applied to the application period.