This program provides a property tax exemption for senior citizens who own one, two, or three family homes, condominiums, or cooperative apartments.
Requirements: - Age: All owners must be 65 years of age or older in the year that they apply. (For example, if the filing due date is March 15, 2013, you would need to be 65 by December 31, 2013). There are two exceptions: If you own your property with either a spouse or sibling, only one of you needs to meet this age requirement.
- Income: The combined income of all owners and their spouses cannot be more than $37,399. Income includes, but is not limited to, Social Security and retirement benefits, interest, dividends, capital gains, net rental income, salary or earnings and net income from self-employment.
- Primary Residence: The property must be the primary residence of all owners.
Notes
You cannot receive both SCHE and DHE (Disabled Homeowner Exemption). If you qualify for both, Finance will only grant SCHE. Both exemptions provide the same benefit amount.
To Estimate How Much SCHE Saves You:
The table below helps you estimate how much you save. | If the Owners' Income Is Between | (SCHE) Can Reduce The Assessed Value By | | $36,500 and $37,399 | 5% | | $35,600 and $36,499 | 10% | | $34,700 and $35,599 | 15% | | $33,800 and $34,699 | 20% | | $32,900 and $33,799 | 25% | | $32,000 and $32,899 | 30% | | $31,000 and $31,999 | 35% | | $30,000 and $30,999 | 40% | | $29,000 and $29,999 | 45% | | $0 and $28,999 | 50% |
Deadlines
For benefits to begin on July 1 of the year you apply, your Exemption Application for Owners including all required documents, must be postmarked by March 15. If March 15 falls on a weekend, the deadline will be the next business day.
Forms and Reports
Forms
Note for Property Owners: You may also be eligible to receive the following exemptions: Basic or Enhanced School Tax Relief (STAR), Clergy, and Veterans.
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Senior Citizen Homeowners' Exemption (SCHE)
