Good news! Pennsylvanians who qualify could see a nice chunk of change back in their wallets from a new property tax and rent rebate program. 🏠💰
The program is one of five programs supported by the PA Lottery. 🎲 In case you missed it, we did an article all about how money from the lottery gets funneled back to the people. Check it out here!
Here’s Five Fast Facts on the new rebate program:
- 😎 Who's In - Here's who's eligible: Pennsylvanians age 65 and older, widows and widowers age 50 and older, and people with disabilities age 18 and older.
- 💵 To the Limit - Additionally, there are income limits in place. For homeowners, the income limit is $35,000 a year. For renters, it's $15,000 annually. Half of Social Security income is excluded.
- 🏘️ Cash Back Breakdown - So how much is the rebate? The maximum standard amount is $650. There are also some supplemental rebates for qualifying homeowners, which could boost that amount to $975.
- 🤠 Well, That's Nice - Local wage and income tax rates in Philadelphia, Pittsburgh, and Scranton are higher than our boy, Snoop. Because of this, qualifying individuals in these areas with income under $30,000 will see their property tax rebate jump by an additional 50%.
- 🙂 That's Nice, Too - In the rest of the state, property tax rebates are also increased by an additional 50%, as long as the households have incomes under $30,000 and pay more than 15% of their income in property taxes.
🔥Bottom line: Who doesn't love a good rebate? Anytime Uncle Sam puts cash back in our paychecks, we do a little happy dance. Psst…have you heard the latest on the rental economy? This article walks through everything we're renting these days. Spoiler alert: it's a lot.
Does this rebate help you and your family?
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