FOR IMMEDIATE RELEASE

Contact:        Melinda Fonda, Tax Assessor, 203.385.4025 
                    Heather B. Habelka, Office of the Mayor, 203.385.4001

Town of Stratford Expands Elderly & Disabled Tax Relief Program
Increases Income Limits to $41,800

Stratford, Connecticut (April 8, 2008) – Mayor James R. Miron today outlined the expansion of the Town’s Elderly and Disabled Property Tax Relief program and announced an increase to qualifying income limits.

Income Limits:

The maximum income to qualify for the Town’s Elderly & Disabled Tax Relief Program (married or single) has been increased to $41,800. This income limit is a combination of the adjusted gross income plus Social Security benefits.

In 2006, the maximum income was: married $35,300 single $28,800.

A copy of the applicant’s 2007 tax return, and Social Security 1099 are needed to process the application. If a tax return is not filed, the year-end income statements along with the Social Security 1099 are needed to apply.

Tax Credit:

In the initial year, the credit is a base credit amount depending on income level. For income steps one through five, the base credit amount will be increased annually by an amount equal to 75% of the amount by which the regular tax levied on the applicant's residence for the applicable Grand List exceeds the tax levied on the same property on the preceding Grand List. This credit does not require reimbursement to the Town of Stratford by the applicant. If the applicant elects to accept the tax credit, the applicant may not elect a Tax Freeze or a Tax Deferral.

Tax Freeze:

This program freezes the applicant's tax amount due. The "freeze amount" is calculated in the first year and will be the amount due for each year after the first year for as long as the applicant continues to meet eligibility. The applicant must enter into a written agreement with the Town of Stratford each year to reimburse the Town for the difference between the "freeze amount" and the actual tax on the applicant's residence. This is called the "freeze benefit." The agreement will be recorded on the land records and will constitute a lien on the applicant's property. The "freeze benefit" plus interest in the amount of 4.5% shall become payable when the property is no longer the residence of the applicant and provided the applicant's surviving spouse is not entitled to tax relief as an applicant. The amount reimbursable to the Town of Stratford will be the total of all benefits received plus interest in the amount of 4.5%. If the applicant elects to accept a tax freeze, the applicant may not elect a Tax Credit or a Tax Deferral.

Tax Deferral:

This program allows the applicant to defer seventy-five percent (75%) of the applicant's tax amount due less any other benefit received from State programs. The applicant must enter into a written agreement with the Town of Stratford each year to reimburse the Town for the deferred taxes. The agreement will be recorded on the land records and will constitute a lien on the applicant's property payable when this property is no longer the residence of the applicant and provided the applicant's surviving spouse is not entitled to tax relief as an applicant. The amount reimbursable to the Town of Stratford will be the total of all benefits received plus interest in the amount of 4.5%. If the applicant elects to accept a tax deferral, the applicant may not elect a Tax Credit or a Tax Freeze.

Outreach Presentations:

To educate seniors and their caregivers about the expanded program, the Town will be hosting a series of presentations on the Town’s Elderly and Disabled Property Tax Relief program. The presentations will include an overview of the program, an outline of eligibility requirements and a question and answer period.

The programs will be held:
April 16 12:30pm Baldwin Center’s “Lunch & Learn” Program
April 30 7pm Stratford Town Hall – Council Chambers

“I commend the Town Council for their unanimous, bipartisan support of the expansion of the Town’s property tax relief program,” said Mayor Miron. “There are too many members of our community who qualify for the Town’s Elderly and Disabled Property Tax Relief program that are not taking advantage of it. I encourage our seniors, and their caregivers, to attend a presentation and learn how to take advantage of this expanded, confidential program.”

In order to qualify for these tax relief programs, an applicant must: 1) have been 65 years of age or over, before December 31, 2007, or be totally disabled; 2) own and reside at the property for which the tax credit is claimed - this must be the applicant's principal or legal residence for one year and 3) have a qualifying income (2007 calendar year) of $41,800.

Veterans and recipients of other types of aid may also be eligible.

In order to complete the applications, proof of all income received during the 2007 calendar year must be presented, and Social Security disabled individuals must present current proof of disability. The documentation necessary to verify income includes a copy of the 2007 Federal Income Tax Return (Form 1040), annual dividend, retirement income and interest statements (1099-Div, 1099-R, and 1099-Int), and the 2007 Social Security Administration benefit summary (Form SSA-1099 or SSA-2458). All taxable as well as non-taxable income must be reported. Joint income for both husband and wife must be reported.

All application information is confidential.

To schedule an appointment, or for more information, please contact the Assessor’s Office at 203.385.4025.

Applications must be received by May 15, 2008.

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