As a renter, over the last few years I’ve been receiving $75 tax rebates, usually by surprise, months after filing taxes. On the governor’s budget plan, the rebate for renters will increase up to $350. Low income renters will see this biggest increase, while those earning between $50,001 and $100,000 like myself will get an increase of only $5.
For renters, an estimated 18% of the total rent paid over the year goes towards property taxes. For me, at $900 a month for my one bedroom apartment, about $1,944 goes towards property tax according to this estimate. The $80 rebate is about 4% of that property tax “bill.”
Homeowners will get much larger rebates, between 10% and 20% of their entire property tax bill. [Home News Tribune: Rebate Increases Set]
Updated August 9, 2011 and originally published February 28, 2007. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.