I am calling about my property tax rebate

I am calling about my property tax rebate

First, check with your state agency.Each state has their own rules.For example: Pennsylvania only benefits those who are 65 and older, widows who are 50, Veteran’s and over and people with disabilities 18 and over.There are also income limits in each state.

Here are five of the most common types of property tax exemptions:

Homestead:

Homestead exemptions keep you from paying tax on a portion of your home value.

Seniors and The Disabled

Many states offer property tax exemptions to older homeowners and the disabled. There are age, income, and residency restrictions, so again check with your state agency. You'll need to show proof of disability, like eligibility for Social Security disability benefits, to get a property tax exemption.

Military Veterans

Many states offer property tax exemptions to veterans if they:

  • Use the home as their primary residence
  • Served during wartime
  • Were honorably discharged

You may need to meet other requirements, like the length of residency or income restrictions. Parents and widows of disabled service members may also get property tax exemptions.

Renovations

If you make home improvements, you may receive a tax break such as; making a up to $75,000 home improvement without paying increase taxes in home value for up to four years.Or, a three year exemption for home improvements up to a certain percentage of the assessed value.Again, each state is different so be sure to check with your state tax assessor before going through with any improvements.

Energy Incentives

Eligible upgrades may include the installation of solar panels or geothermal heat pumps.

Look for information on state and local property tax breaks for renewable energy systems on the Database of State Incentives for Renewables & Efficiency.

Other Exemptions

A visit to your local tax assessor’s office may turn up other less common property tax exemptions, such as; exempts to property you build or renovate and give to a grandparent to reside.Or, if you are a first responder the state may reduce the assessed value of your home.

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