Anticipate Property Tax Rebate Checks
Criteria for Qualification in the New Lenox Property Tax Rebate Program
According to The U.S. Sun, Americans living in the Village of New Lenox, Illinois, are excited about getting property tax rebate checks soon. Nearly 6,790 households will receive these rebates and the checks were sent out on March 4. The rebates totaling $2,217,437 cover the entire Village portion of property tax rebates based on the 2022 taxes collected in 2023. To qualify residents must meet specific criteria like owning Homestead Real Estate continuously from January 1, 2022, to December 31, 2022. They should also be homeowners aged 65 or older by December 31, 2023, live at the provided address, have no rental income from the property in 2022, and owe no past-due bills or violations to the Village of New Lenox.
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Additional Responsibilities for New Lenox Residents Receiving Property Tax Rebates
Residents are reminded to report the property tax rebates to the IRS during their annual income tax filing. They should also be up to date on all 2022 real estate taxes. Beyond this Americans are encouraged to explore other potential property tax rebates such as the Federal Solar tax credit offering a 30% deduction for homeowners investing in solar. This credit, officially known as the Investment Tax Credit (ITC) can significantly reduce tax bills for those making solar-related investments. For instance, spending $20,000 on solar installation could lead to a $6,000 reduction in taxes.