Property Tax Relief

Going back to the main topic, the property tax relief program is pushed through several categories. There are many too mention here, so I'll just state a few, that you may get an idea of the so-called categories. One would be the Senior Citizen Real Property Tax Relief category, which does in some way concern your grand daddy and mammy (the old ones). Another is the First-Time Homebuyer Individual Income Tax Credit, which seems to have something to do with individuals buying a house for the first time, maybe. The last example of a category I'll give you is the Homestead Exemption, I'm running outta space for me to upload, so I won't give a formal description of it, but you could always do research about it.

The Individual Earned Income Tax Credit gives low income tax payers a refund that includes property taxes. This credit is an example of one of the best poverty reduction tools in existence. It is used in other countries as well, because of its success with helping the working poor. Even so, there are many eligible people who do not take advantage of the Individual Earned Income Tax Credit. All that is involved is the filing of a few forms. There are many non-profit organizations and neighborhood groups willing to help qualified candidates apply for this relief.

Some states, such as Colorado and Pennsylvania, offer property tax relief in the form of a Property Tax / Rent Credit for residents who meet certain age, disability or income limits.  Many districts may also reduce real estate taxes based on age and longevity in the home, or freeze the real estate tax amount when a resident reaches a set age.  Other states may eliminate real estate tax completely on the personal resident of a disabled veteran based upon the extent and cause of the disability.

In the US, real estate property tax is not allowed to be charged on property owned by churches or other registered non-profit organizations as long as that property is not held for the sole purpose of income production.  For example, property which houses a church cannot be taxed, but a movie theater which is open to the public on a regular basis as a means of income production may be subject to property tax even if it is owned by a religious order.  Historic properties listed on the National Register of Historic Places may also be exempt from property tax, depending upon the state and local laws of the region.