Circuit Breaker Tax Credit Calculator

Please select your County:

2007 Household Gross Income of all members of my household: 

My Property Taxes paid in calendar year 2007:

"Circuit Breaker" credit against income taxes:

Net property taxes after "Circuit Breaker" credit:

NOTES: Definitions revised June 15th, 2008.

   

"2007 Household Gross Income" includes all income from any source of each member of the household, whether taxable or not. Illustrative examples include social security  and child support payments which often do not appear in income tax returns but must be included for the circuit breaker credit calculation.

 

"Household" includes all persons residing in the residence for which the circuit breaker credit is claimed, regardless of relationship to the owner or other members of the household, during  any part of the year. Only income received by household members during the time they are members of the household is to be included in the Household Gross Income.

 

"Property Taxes" means the real property taxes assessed on the residential rel property owned and occupied by the taxpayer(s) after any exemption or abatement received pursuant to the real property tax  law. property tax.

 

The complete definitions of these terms are in the current Senate (S1053B) and House (A1575B) bills,  which can be viewed here.



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