Exemption on your taxes!

It's NOT too late! You may be eligible for an exemption on your property-March 1st is the deadline to file. Residential Star (Basic) is available to all property owners regardless of age or income. To be eligible you must own and reside on the property as of March 1,2010. Proof of residency is required.

Enhanced Star (Senior) is available to property owners  who are 65 years old or older. Single and combined incomes cannot exceed $74,700 on the adjusted Federal Adjusted Gross Income Tax Return. Proof of residency is required

Partial Tax Exemptions are also available to those property owners who are 65 years old or older with single and combined income of $37,400. (Income includes wages, pensions, and social security-contact your Department of Assessment for more details)

For further details on the above information, or to inquire about other types of exemptions, please call your local Department of Assessment.

Happy Saving! :)

 

Jan Alber

Jan Alber

Licensed Real Estate Associate Broker, CRS,GRI,SRES,ASP
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