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Over the Age of 65 Circuit Breaker Credit

Eligibility Requirements
In 2008, there was a new age exemption that was offered by the state. This credit is only available for the property of real property on which he or she currently resides if they meet the following qualifications:
  • The combined adjusted gross income of the individual and his or her spouse or other persons with whom the property is being shared or purchased did not exceed $40,000 for the preceding calendar year; $30,000 for individual filings
  • The individual has owned the property for at least one year
  • The assessed value of the real property did not exceed $160,000
  • The individual receives no other property tax deduction for the same year the individual applies for this deduction, with the exception of the mortgage and standard deductions and the age deduction from assessed value