Tax reduction

iVillage Member
Registered: 09-10-2008
Tax reduction
Mon, 03-02-2009 - 7:01pm

Property owners over 65 in our township get 2 kinds of help with the tax. One is just being 65 keeps your tax rate frozen at the amount that year (but the property values can still go up). We must return a from yearly, so they know we are still kicking. The other "freeze" is based on income. We took it for 2 years, then the next 2 years had too much income, due to cashing in some IRA funds for other investments. After completing the form, we knew we were ineligible, so did not return the form. I received a call from the Township offices today because they had not heard from us in 3 years, but DH had completed the over 65 form, so they knew we were here. The wonderful rep told us that they are allowed to reach back up to 2 years and reduce tax, so she wondered if we had forgotten to turn in the 2007 info, due Dec 31, 08. Sure enough, it was still in my folder. A quick trip to their office got us back on track and we will see the reduction when the tax bills go out this Spring. Now DH & I both know that as soon as we file our taxes, he will take the completed form directly to the office and we can forget about it for another year. It's nice to have some good public employees.

Jacquie