Benefit Payment
Most eligible homeowners will receive their homestead benefit for 2011 in the form of a credit applied to their property tax bills in May 2013. Those homeowners can expect to receive a revised property tax bill or advice copy from their tax collector that will reflect the amount of the benefit. However, any homestead benefit for which you are eligible will be issued in the form of a check (or direct deposit) in May 2013, if (1) your principal residence was a unit in a co-op or continuing care retirement community or (2) you stated in your application that you no longer own the property that was your principal residence on October 1, 2011.
The amount of the benefit is based on an applicant’s income, filing status, property taxes, and whether the applicant was age 65 or older or eligible to claim an exemption as blind or disabled for tax year 2011. Under the terms of the State Budget the 2011 benefit will be calculated using 2006 property taxes. In addition, the 2011 benefit amount cannot exceed the homestead rebate amount paid for 2006 unless there has been a change in an applicant’s filing characteristics. “Filing characteristics” means a reduction in income range, a change in age/disability status or filing status, or an increase in percentage of ownership.
Amounts received under the Homestead Benefit Program are in addition to the State’s other property tax relief programs. The total amount of all property tax relief benefits received (homestead benefit, property tax reimbursement, property tax deduction for senior citizens/disabled persons, and property tax deduction for veterans) cannot exceed the amount of property taxes paid on the applicant’s principal residence for the same year.
Most eligible homeowners will receive their homestead benefit for 2011 in the form of a credit applied to their property tax bills in May 2013. Those homeowners can expect to receive a revised property tax bill or advice copy from their tax collector that will reflect the amount of the benefit. However, any homestead benefit for which you are eligible will be issued in the form of a check (or direct deposit) in May 2013, if (1) your principal residence was a unit in a co-op or continuing care retirement community or (2) you stated in your application that you no longer own the property that was your principal residence on October 1, 2011.
The amount of the benefit is based on an applicant’s income, filing status, property taxes, and whether the applicant was age 65 or older or eligible to claim an exemption as blind or disabled for tax year 2011. Under the terms of the State Budget the 2011 benefit will be calculated using 2006 property taxes. In addition, the 2011 benefit amount cannot exceed the homestead rebate amount paid for 2006 unless there has been a change in an applicant’s filing characteristics. “Filing characteristics” means a reduction in income range, a change in age/disability status or filing status, or an increase in percentage of ownership.
Amounts received under the Homestead Benefit Program are in addition to the State’s other property tax relief programs. The total amount of all property tax relief benefits received (homestead benefit, property tax reimbursement, property tax deduction for senior citizens/disabled persons, and property tax deduction for veterans) cannot exceed the amount of property taxes paid on the applicant’s principal residence for the same year.
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Jerry Keer
Jerry Keer
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