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Tax Relief and Tax Credits
Senior Citizen or Disabled Property Owner Tax Relief
When a property owner turns 65 years of age or older, or when he or she is disabled, he or she may file an application immediately for disabled or senior citizen property tax relief. This benefit reduces a qualified property owner's property tax by 50 percent. If the property owner lives in a cooperative housing association, the cooperative will supply and collect the applications. The following guidelines apply:
- The disabled or senior citizen must own 50 percent or more of the property or cooperative unit;
- The total adjusted gross income of everyone living in the property or cooperative unit, excluding tenants, must be less than $100,000 for the prior calendar year; and
- The same requirements for application, occupancy, ownership, principal residence (domicile), number of dwelling units, cooperative housing associations and revocable trusts apply as in the homestead deduction.
The Homestead Deduction, and Senior Citizen or Disabled Property Owner Application is available on the Real Property Tax Forms page.
For 2006, this tax relief measure will be applied to the first-half 2006 tax bill of those applicants who file by May 1. Applications filed after that date will be eligible for tax relief beginning with their second-half 2006 taxes.
Thereafter, if a properly completed and approved application is filed from October 1 to March 31, the property will receive the deduction for the entire tax year (and for all tax years in the future). If a properly completed and approved application is filed from April 1 to September 30, the property will receive one-half of the deduction reflected on the second installment (and full deductions for all tax years in the future).
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