Different Property Tax Credits You May Qualify For

There may be different tax credit property that you may qualify for. What those credits may be depends on the jurisdiction that you live in and the availability of a property tax credit. A tax credit helps to reduce a taxpayer’s taxes.  This amount comes in the form of an offset that a taxpayer claims on their tax forms.

What Are Property Taxes

Property taxes, which are also known as ad valorem taxes are assessed by local communities such as cities, counties and water and sewerage districts.  Property taxes are used to find public works projects and provide revenue to a local taxing authority.

The Difference in Property Tax Credits

The amount of property taxes that a resident pays differs dramatically between jurisdictions.  A property tax credit may be available only in those jurisdictions that require local tax filing in addition to a state and federal tax return.  For other jurisdictions, a resident should check with their assessor’s office for a complete list of available property tax credits.