Variations in Receipt of Benefit
Benefit Varies with Income
All who are eligible receive an ad valorem tax refund dependent on their income. the maximum credit is $600. There are 22 income brackets. Those in the lowest bracket, less than $3,000 get a full refund of property taxes. The highest bracket, $26,001 to $27,000 receive a 5% refund. Renters, subject to the same refund schedule, calculate property taxes as 20% of rent.
How is Benefit Disbursed
Credit to the income tax bill
Eligible Property Type
Characteristics of Eligible Property
Eligibility is limited to the applicant's place of residence.
Description of Eligibility Criteria
Claimants must be 55 or older, have a disability, be a disabled veteran, a surviving spouse of a member of the active duty military who died in line of fire, or a person with one or more dependent children under the age of 18. Benefits available to those earning less than $28,000.
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
State reimburses all of the local government tax loss
Description of State Funding for Tax Loss
The state director of accounts and reports issues a voucher to county in which claimant's homestead is located approved by the director of taxation in the amount of the allowable claim for refund.