A Welcome Break for Homeowners
As early as age 55, you
may be eligible for a special deal on your property taxes. Here's a
state-by-state directory on where to find more information.
MOST STATES GIVE
RESIDENTS OVER A CERTAIN AGE-- sometimes as young as 55 -- a break on their
property taxes. In some states, you'll need a relatively low income to qualify,
but in others your income doesn't matter. All 50 states offer some type of
property tax relief program, such as freezes that will lock in the assessed value
of your property once you reach a particular age. In addition, counties and
municipalities often have their own property tax relief plans. For details,
check with your state at the phone numbers or Web sites listed here. They can
also refer you to any local sources.
.
NEW JERSEY – For tax information
for seniors, visit http://www.state.nj.us/treasury/taxation/index.html?nfoforsr.htm~mainFrame
or call
WASHINGTON, D. C. – Visit http://cfo.dc.gov/services/tax/faqs/tax_credits.shtm
or call the Office of Tax and Revenue’s Customer Service Assistance at 202-727-4TAX.
for property tax system
and exemption information.