Variations in Receipt of Benefit
No Variation in Receipt of Benefits
The local school board may vote to allow a credit against school taxes imposed on the principal residence of a qualifying individual. The maximum credit provided is the lesser of 50% of taxes remaining after homestead and other exemptions are taken, up to $400. The vocational portion of the tax bill is excluded. The senior cut is calculated after across-the-board cuts. Applications must be filed annually by 30 April in the year the benefit is sought.
How is Benefit Disbursed
Credit to the property tax bill
Eligible Property Type
Characteristics of Eligible Property
Only residential property is eligible for this program. The property must be a primary residence.
Description of Eligibility Criteria
The individual must be 65 years of age or older and the property must be owned by the individual. As of June 30th of the year for which the benefit is claimed, the person must meet residency requirements. For those establishing residence in the state on or before 31 December 2017, the residency requirement is 3 years. For those establishing residence after 31 December 2017, the residency requirement is 10 years. If there are multiple owners, each can file for the benefit, but they can only receive a proportional share of the benefit. Applications must be submitted by 30 April and property tax bill must be paid in full to qualify for the credit for the subsequent property tax year.
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 will mail rebate checks directly to individuals who qualify for the program.