Tax Relief for Elderly and Disabled
Minimum qualifications include:
- Be at least 65 years of age or permanently and totally disabled on or before December 31st of the year immediately preceding the year in which you are applying for tax relief.
- Own and occupy the dwelling on or before January 1st of the year you are applying for tax relief. (If the owner is in the hospital, nursing home, or other institution, he/she is still eligible if the dwelling remains as their home and has not been rented to another party. Upon transfer or sale of said property, the amount exempted for the remainder of that year shall become due and payable.)
- Have a combined gross household income of $50,000 or less from all sources, including all relatives residing in the house. Each relative, excluding your spouse, may deduct $7,000 from their annual income when figuring income requirements.
- Report all financial assets of owners living in the home, excluding the value of the house and up to 10 acre home site of land as follows:
- Exemption (Total/Partial) - Income up to $31,000 - assets up to $200,000
- Freeze - Income up to $50,000 - assets up to $200,000
- Deferral - Income up to $50,000 - assets up to $200,000
- Verification of all statements may be required.
Information can be obtained by calling (757) 727-6690.