Variations in Receipt of Benefit
Benefit Varies with Income
Taxpayers receive a non-refundable income tax credit for all or a portion of their property taxes for their primary residence or motor vehicles. The amount of the credit is determined by income and marital status, with a maximum credit of $200. The credit is reduced by 15% for every $10,000 or a fraction thereof in adjusted gross income above $49,500 for unmarried individuals; $35,200 for married filing separately, $54,500 for heads of household; and $70,500 for married households.
How is Benefit Disbursed
Credit to the income tax bill
Eligible Property Type
Characteristics of Eligible Property
This credit applies to property taxes paid on a primary residence or motor vehicle.
Description of Eligibility Criteria
To qualify, taxpayers must have paid property taxes on their primary residence or motor vehicle. The claimant must be at least 65 years old or they claim a dependent of their federal income tax. The amount of the credit, up to a maximum of $200, is determined by income and marital status. The maximum income is $109,500 for a single filer; $114,500 for head of household and $130,500 for filing jointly.
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 issues a credit directly to the taxpayer.
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