Variations in Receipt of Benefit
No Variation in Receipt of Benefits
The benefit is a deferral of all property taxes dues. The program is contingent upon adoption by municipality ordinance. Deferrals constitute a lien on the property with interest accruing at a rate of 0.5% on top of the rate approved by the county for delinquent taxes.
How is Benefit Disbursed
Eligible Property Type
Characteristics of Eligible Property
Only residential property is eligible for this program.
Description of Eligibility Criteria
To be eligible, the claimant must be 70 years of age or older and occupy the homestead as of 1 April. Additionally, the claimant must also have resided in the homestead for at least 10 ten years prior to application, and the taxpayer’s household income does not exceed 300% of the federal poverty level.
Local Option in Adoption of Program
Local government must take action to opt in
Local Option Regarding Program Features
No local option regarding program features