Tax Relief/Credits

Local Tax Credits for Elderly and Totally Disabled
2021 Information
SUSPENDED: FOR 2021 APPLICANTS: NO NEED TO REAPPLY; ALL BENEFITS WILL REMAIN THE SAME.

FOR NEW APPLICANTS: The filing period for tax credits for Elderly and Totally Disabled Homeowners for the 2020 Grand List is From February 1, 2021 through May 15, 2021.

To apply, the applicant must meet age, income limits ($37,000 FOR SINGLE & $45,800 FOR MARRIED), and own and occupy the home. He or she must have been 65 years of age by December 31, 2020 or be totally and permanently disabled before reaching the age of 65. All income must be documented. The maximum income on the local program for single applicants is $56,400.00 and the maximum for married applicants is $68,700.00.

Applicants must show proof of all income received for the 2020 calendar year by supplying a copy of their Federal Income Tax Return. If you do not need to file a return, bring all year end statements and the 2020 Social Security Benefit Statement (Form SSA-1099).

Totally disabled applicants must submit current written proof of their disability and income. Proof of disability can include Social Security, Federal, State or Local government retirement or disability plan, Railroad Retirement Act, or government-related teacher's retirement plan.

The maximum credit under the Town program is $400. It is also based upon percentage of ownership and years as a resident of Prospect. An applicant that meets all requirements and has resided in Prospect for 1-5 years is eligible for $200; if an applicant meets the requirements and has lived in Prospect for 6 or more years, they would be eligible for the $400.

To file an application for the tax credit, the applicant, a relative or agent must come to the Prospect Assessor's Office before the filing period ends on May 15, 2021.

Please call the Prospect Assessor's Office for an appointment. The hours are 10:15am to 12 noon, and 1:30pm to 3:30pm.