Deadline For New Property Tax Credit Dec. 31
July 28, 2016 at 4:25 p.m.
By Tim [email protected]
The credit, part of a property tax relief plan approved by state legislators in March, is aimed at eliminating the uncertainty of annual tax increases for seniors on fixed incomes. It prevents qualified homeowners' property tax bills from increasing more than 2 percent from the previous year's bill.[[In-content Ad]]To qualify for the new exemption, homeowners must be at least 65 on or before Dec. 31 and have a gross adjusted income of less than $40,000 for a couple or $30,000 for an individual. The gross assessed value of an applicant's homestead cannot exceed $160,000.
Kosciusko County Auditor Marsha McSherry said seniors interested must apply for the exemption at her office. She said applicants must provide proof of income such as a 1040 tax form from the IRS. McSherry said 15 to 20 area seniors had applied for the credit as of early Thursday.
The state's tax relief plan includes tax caps that will hold tax bills to 1.5 percent of a home's assessed value in 2009. The new credit for seniors will work in conjunction with the rest of the state plan.
The Kosciusko County Auditor's Office is on the first floor of the county courthouse, 100 W. Center St., Warsaw. The auditor can be reached at 574-372-2328.
The credit, part of a property tax relief plan approved by state legislators in March, is aimed at eliminating the uncertainty of annual tax increases for seniors on fixed incomes. It prevents qualified homeowners' property tax bills from increasing more than 2 percent from the previous year's bill.[[In-content Ad]]To qualify for the new exemption, homeowners must be at least 65 on or before Dec. 31 and have a gross adjusted income of less than $40,000 for a couple or $30,000 for an individual. The gross assessed value of an applicant's homestead cannot exceed $160,000.
Kosciusko County Auditor Marsha McSherry said seniors interested must apply for the exemption at her office. She said applicants must provide proof of income such as a 1040 tax form from the IRS. McSherry said 15 to 20 area seniors had applied for the credit as of early Thursday.
The state's tax relief plan includes tax caps that will hold tax bills to 1.5 percent of a home's assessed value in 2009. The new credit for seniors will work in conjunction with the rest of the state plan.
The Kosciusko County Auditor's Office is on the first floor of the county courthouse, 100 W. Center St., Warsaw. The auditor can be reached at 574-372-2328.
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