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6 East Coast States With Tax Relief Programs
January 12, 2024
Ben Franklin said that only two things are certain – death and taxes. Well, we certainly can’t escape death, but some of us may escape a portion of our real estate taxes. Here are 6 East Coast States With Tax Relief Programs.
New York has a program called the School Tax Relief (STAR) program, which provides partial exemptions from school property taxes for primary residences. The Enhanced STAR program provides additional benefits for senior citizens.
Pennsylvania has the Property Tax/Rent Rebate program, which provides rebates to eligible homeowners and renters with low incomes. The program is based on income and age requirements.
Maryland offers several property tax relief programs, including the Homestead Tax Credit, which limits the increase in taxable assessments each year for eligible homeowners. The Senior Tax Credit is available for homeowners aged 65 and older with a certain income limit.
Massachusetts has a program called the Senior Circuit Breaker Tax Credit, which provides a refundable tax credit to low-income homeowners and renters who pay a high percentage of their income in property taxes or rent.
It’s important to note that specific eligibility criteria and program details may vary, and it’s a good idea to check with the relevant state agencies or local tax authorities for the most up-to-date information on these programs.