Definition
Programs that provide information and guidance for people who need to understand the property tax abatement program that allows property owners who meet age, disability and income guidelines to volunteer their services to the municipality (or the school district, where applicable) in exchange for a reduction in their property tax bill. Volunteers generally receive credits for their service in an amount equal to the state's minimum wage; and there is an upper limit to the tax reduction an individual may earn during a particular fiscal year. Other rules may apply depending on the jurisdiction. Abatement amounts are included in the taxpayer's gross income for federal income tax and FICA tax purposes.
URL Name
DT-8700-6500-770
Third Level Code
DT-8700
Taxonomy Code
DT-8700.6500-770
Parent Code
DT-8700.6500
Family Code
D
Second Level Code
DT
Fifth Level Code
DT-8700-6500-770
Fourth Level Code
DT-8700-6500
Publication Status
Online