2012 Homestead Benefit
The State Budget for FY 2015, which must be adopted by July 1, 2014, will determine the 2012 eligibility requirements, including the income limits. The income limits vary depending on your age and/or disability status on December 31, 2012.
For 2011, the income limits were:
- $150,000 for homeowners age 65 or older or blind or disabled; and
- $75,000 for homeowners under age 65 and not blind or disabled.
The income limits apply to a single individual, a married/civil union couple living in the same residence, and a married/civil union partner maintaining a residence separate from their spouse/civil union partner. Nontaxable income such as Social Security, Railroad Retirement benefits, or unemployment compensation should not be included.
You can file a 2012 Homestead Benefit Application regardless of your income, but if it exceeds the limits determined by the State Budget, your application will be denied.
Note: Information regarding the 2012 income limits will be posted when it becomes available.