Senior Citizens’ Property Tax / Rent Rebate

State

Nevada

Year

2007

Variations in Receipt of Benefit

Benefit Varies with Income

Benefit Type

Circuit Breaker

Benefit

For households with incomes below 100% of the poverty level, the relief is 100% of property taxes paid or 8.5% of rent paid. As income rises, the rate of relief declines based on administrative calculations up to the maximum income threshold. The refund is not to exceed the lesser of $500 or the accrued property tax.

How is Benefit Disbursed

Direct payment to taxpayer

Eligible Property Type

Residential

Characteristics of Eligible Property

Only residential property is eligible for this program.

Eligibility Criteria

Age

Homeowner

Income Ceiling

Property Value Limit

Renter

Wealth Limit

Description of Eligibility Criteria

This program is available to persons age 62 or older with incomes up to $27,863. Income ceiling is adjusted annually by the Consumer Price Index (CPI). To be eligible, applicants (and their spouses where eligible) may not own any additional properties valued at over $30,000; must have homes valued at or under $200,000; and have liquid assets not exceeding $150,000.

Local Option in Adoption of Program

Local government is unable to exercise an option

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 payments for this program are made directly from the state to the taxpayer.

Record ID

NV105_RR07

Footnotes

Eligible individuals may receive this rebate in addition to any exemptions received under the blind, veterans, disabled veterans, or surviving spouse programs but the assessed values used to determine the amount of the benefit shall be reduced accordingly. Claims must be filed annually for this program.

Sources

Nev. Rev. Stat. § 427A.450 ~ 427A.600 (in effect for 2007)

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