Variations in Receipt of Benefit
No Variation in Receipt of Benefits
This maximum for this non-refundable state income tax credit is 12% of the first $2,500 of property taxes or rent paid, or $300; for married persons filing separately, the credit is 12% of the first $1,250, or $150.
How is Benefit Disbursed
Credit to the income tax bill
Eligible Property Type
Characteristics of Eligible Property
Description of Eligibility Criteria
Since this is a non-refundable credit, the taxpayer has to file state income tax returns and must have a state tax liability.
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