Statewide legislation, passed in 1998
by the Governor and General Assembly, provides for allowing an annual
credit against your local property taxes. The amount of the credit
varies annually, and it is limited to an amount equal to the current
millage rates times the value determined each year by the General
Assembly, not to exceed $20,000.
The established value through the year
2003 increased to $8,000.00 per eligible household. To be eligible
for this credit, the property owner need only have qualified for
the statewide homestead exemption for the year the credit is allowed.
The Governor and General Assembly establish
the value amount each year for eligible homeowners.
