Variations in Receipt of Benefit
No Variation in Receipt of Benefits
The benefit is an assessment freeze at the value for the tax year when the owner first becomes eligible and is in place as long as the owner remains eligible. There are two components to the program, one that was adopted in 2001, which was expanded in 2003 to include the disabled regardless of age, and another modification enacted in 2008. The distinction between the two programs is the income limit. An owner who is entitled to a limitation in valuation under both the pre or post-2008 program may designate the limitation that shall be applied. Applicants must apply annually with the local county assessor where the property is located. An owner who applies for the limitation of value and files proof of income eligibility for the three consecutive years immediately prior to the tax year for which the application is made need not claim the limitation for subsequent tax years if there is no change in eligibility. The county assessor shall apply that limitation automatically in subsequent tax years until a change in eligibility occurs.
How is Benefit Disbursed
Exemption from assessed value
Eligible Property Type
Characteristics of Eligible Property
Only single-family dwellings are eligible for this benefit.
Description of Eligibility Criteria
Applicants must be either disabled or have reached the age of 65 during the year in which they apply. There are two income levels and both apply. The lower income ceiling applies to those 65 or older in prior to 2009 or disabled in or after 2003; the higher income ceiling applies those are 65 or older or disabled in or after 2009. An owner who is entitled to a limitation in valuation under both the pre- and post-2009 program, may designate which the limitation shall be applied. Beginning in 2009, the income level has been $32,000. For those who qualified for the assessment limitation prior to 2009, the 2017 maximum income for Tax Year 2018 is $25,500. For those who qualified for the assessment limitation prior to 2009, the 2018 maximum income for Tax Year 2019 is $26,100.
Local Option in Adoption of Program
Local government is unable to exercise an option
Local Option Regarding Program Features
No local option regarding program features
State Funding for Local Tax Loss
Local government covers all of its tax loss
Description of State Funding for Tax Loss
State statutes are silent on funding for this benefit.