Ask Terry Questions Retroactive Exemption

Retroactive Exemption

By Terry Savage on May 18, 2018 | Housing / Real Estate

Terry, My husband and I were not aware that we were eligible for a Tax Freeze for 2017, and have already paid the first installment. Can we request a refund if we're found to be eligible for the 2nd installment? Thank you for your help.

Terry Says

Are you talking about the senior freeze?  You have to apply for it in the year you reach age 65.  And you must have a maximum income in 2017 of $65,000.  You can apply at any time for the senior freeze, and you must be prepared to document your age and income.  If you already paid the first installment, before applying for the freeze, you should find the reduction on your second installment.  If, in fact, the reduction is so great that it exceeds the second installment, then you might even get a refund.  This according to the office of Andrea Raila, property tax expert.



a personal
finance question