Variations in Receipt of Benefit
No Variation in Receipt of Benefits
Eligible applicants receive a property tax exemption of $1,000. At local option, municipalities may provide an additional $1,000 exemption.
How is Benefit Disbursed
Exemption from assessed value
Eligible Property Type
Characteristics of Eligible Property
Only residential property is eligible.
Description of Eligibility Criteria
Eligible applicants must: (1) be eligible to receive permanent total disability benefits under Social Security; (2) qualify for permanent disability benefits under federal, state, or local government retirement plan; or (3) be 65 years or older and no longer eligible to receive benefits under the disability benefit provisions of Social Security. Under local option, eligibility is restricted to those with an income below $23,600 if unmarried and $28,900 if married.
Local Option in Adoption of Program
Local government must take action to opt in
Local Option Regarding Program Features
Local option regarding program features
State Funding for Local Tax Loss
State reimburses all of the local government tax loss
Description of State Funding for Tax Loss
The state reimburses municipalities for the loss of tax revenue due to the exemption. However, in the event that the amount payable to municipalities exceeds the amount appropriated for the reimbursement, the state reduces the size of the grants proportionally.
In Fiscal Year 2006, state reimbursement of local government tax loss from the exemption totaled $387,636.