The Tax Assessor has issued a reminder to residents regarding the May 15, 2018 deadline to file an application for tax relief.
In order for an elderly person currently receiving benefits to continue to receive those tax credit benefits, State law mandates that the recipient or someone appointed by them, must fill out an application and return it to the Assessor’s office no later than May 15, 2018.
The Town of Winchester offers three basic plans for taxpayers aged 65 and over and totally disabled persons, and an additional program for residents aged 70 and over. Please note that the Town and State credit is a sliding scale based on income. The State of Connecticut contributes part of the credit while the Town provides the other part.
In order for persons to remain on this program, qualified individuals must file in accordance with the instructions on the application. Proof of income is required to be submitted and is based on 2017 income, consisting of a copy of an applicant’s Federal Income Tax Return, bank statements showing interest earned, dividend statements, and statements from Social Security (form SSA-1099). These are requirements that must be met in order to continue on the program.
An additional program is a Tax Deferral Program, wherein real estate owners must qualify by income and age requirements and the property must also be owner occupied for three or more years. As part of this program, homeowners are eligible to defer up to 75% of their taxes. Taxes will be paid back to the Town once the home is sold or title is transferred to someone else. Although the Town files a lien on the Land Records, this is an INTEREST FREE lien, and simply means that the Town is entitled to reimbursement the day the property is sold or transferred. The advantage in selecting this program is especially attractive for those who wish to have more cash flow and be able to meet their living expenses or have extra money to invest for the future, travel, or have a better quality of life. Please keep in mind that this is an INTEREST FREE lien. Please contact the Tax Assessor’s office for an application or with any questions.
Income Requirements:
Income for Single $35,300
Income for Married $43,000