Over Age 65 Deduction
$14,000 is deducted from the assessed value of the property. Property owners must occupy as their principal place of residence. Adjusted gross income cannot exceed $30,000 when filing single, and combined household income cannot exceed $40,000. Applicants should bring their income tax return when filing. The assessed value of the property cannot exceed $240,000. Anyone who makes a change to their deed / trust must re-file.
Over Age 65 Circuit Breaker Deduction
The assessed value of the home cannot exceed $200,000. Adjusted gross income cannot exceed $30,000 when filing single, and combined household income cannot exceed $40,000. When applying, please bring your income tax return.
