Property Tax Circuit Breakers

Rationale

A large portion of state and local tax revenues come from property taxes. Circuit breakers are property tax relief programs that target low- and moderate- income homeowners, particularly seniors. Circuit breakers kick in when property taxes exceed a certain percentage of a household's income and provide a property tax rebate or tax subsidy for qualifying households. Circuit breakers are particularly helpful for seniors on fixed incomes who live in older homes where property taxes are increasing due to gentrification.

About Measure

States that have programs for assisting the elderly and disabled in meeting their property tax burden (in 1998). States receive credit for having programs that target any of the following populations: 1) elderly homeowners, 2) all homeowners, 3) elderly renters, 4) all renters. A state receives 0 points if it does not have any circuit breaker programs, 0.25 if it has one, 0.5 if it has two, 0.75 if it has three, and 1 if it has all four. helpful for seniors on fixed incomes

Source

Baer, D., AARP Public Policy Institute. (1998). Awareness and popularity of property tax relief programs. Washington D.C.: Author.