Property Tax Adjustment Calculation for Household Incomes
Household Income $47,000 or less Eligible homeowners receive an adjustment to education property tax based on a percentage of household income OR the education property tax on $15,000, whichever is more.
These homeowners may also be eligible for additional adjustment for municipal property tax.
Household Income between $47,001 and $89,999
Eligible homeowners receive an adjustment to education property tax based on a percentage of household income.
Household Income $90,000 or more
Eligible homeowners receive an adjustment to education property tax based on a percentage of household income. Eligible property tax for adjustment is limited to a maximum of $200,000 housesite value. Generally, homeowners with household income of $97,000 or more do not receive an adjustment.
Maximum property tax adjustment is $8,000.