Tax Breaks For The Elderly

POSTED BY: Brandon Arnold
Monday, July 9, 2007 - 02:31 PM
Thanks to a new bill passed in the Ohio House this year, property tax cuts are going to be more readily available for the elderly and disabled.

The bill expanded the Homestead Exemption Program, which offered property tax cuts for elderly and disable people with low incomes. The expansion now makes the tax cuts available to everyone.

“Under the governor’s new budget bill that was passed July 1st, the income criteria has been waived,” says Muskingum County Auditor Anita Adams. “All senior citizens age 65 and over or anyone who is certified permanently and totally disabled is eligible for a refund.”

Enrollment for the program ends October 1st and you must apply in order to get the tax break. The break works by subtracting $25,000 off the value of the home and taxing whatever is left.

“If you have a $50,000 home and they took $25,000 off of the value, then it makes sense that the property taxes for that home would be cut in half.”

People who turn 65 later this year are also eligible for the program. People currently under the Homestead Exemption Program will still be covered after the expansion.

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