Variations in Receipt of Benefit
No Variation in Receipt of Benefits
The state program provides a credit for taxes on the first $25,000 of market value. Local option may provide for an additional credit, not to exceed total taxes.
How is Benefit Disbursed
Direct payment to taxpayer
Eligible Property Type
Characteristics of Eligible Property
Eligibility is limited to the applicant's place of residence.
Description of Eligibility Criteria
Claimants must be 65 or older or permanently and totally disabled. For 2011, income in 2010 may not exceed $26,830.
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
State Funding for Local Tax Loss
State and local government share the local tax loss
Description of State Funding for Tax Loss
The state reimburses local jurisdiction for the state program. Local option programs are funded locally.