Variations in Receipt of Benefit
No Variation in Receipt of Benefits
The local school board allows for a credit against school taxes imposed against principal residence that is the lesser of 50% of taxes remaining after homestead and other exemptions are taken, or $500. The vocational portion of the tax bill is excluded. The senior cut is calculated after across-the-board cuts.
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.
Description of Eligibility Criteria
The individual must be 65 years of age or older, the property must be owned by the individual and be the principal residence.
Local Option in Adoption of Program
Local government must take action to opt out
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
States will mail rebate checks directly to individuals who qualify for the program.