The Property Tax Circuit Breaker: An Introduction and Survey of Current Programs

Publication Date: March 2007

Publisher: Center on Budget and Policy Priorities (Washington, D.C.)

Author(s): Karen Lyons; Sarah Farkas; Nicholas Johnson

Research Area: Banking and finance; Government

Keywords: Income diversity; Tax code; State budgets; Economic projections

Type: Report

Abstract:

This report provides an introduction to property tax circuit breakers and describes the main features of circuit breaker programs currently being administered in the states. Such features include eligibility restrictions based on whether the taxpayer is a homeowner or renter, on age or disability status, and on income level. The maximum benefit amounts, how these benefit are administered (i.e. as an income tax credit or state rebate check), and the cost of such programs are also addressed. Future Center on Budget and Policy Priorities analyses will discuss in greater detail how these different state programs compare with one another and the policy consequences of these differences.