What is the “First Dollar Credit”?
The First Dollar Credit is new with tax year 2008. Unlike the lottery credit, property owners who are eligible will receive the credit on their bill automatically without any forms to sign or applications to submit. To be eligible, the property (otherwise known as the “parcel”) must have an improvement. If you have an amount listed in the box labeled “Ass’d Value Improvements” in the upper left part of your tax bill, you qualify for the credit. The amount of the credit will be the same for all parcels within the same school district. For 2008 the amounts range between $35 and $50 (depending on school district). The credit is divided between the first installment, due January 31st, and the 2nd installment, due July 31st.
The First Dollar Credit was new with tax year 2008. Unlike the lottery credit, property owners who are eligible will receive the credit on their bill automatically without any forms to sign or applications to submit. To be eligible, the property (otherwise known as the “parcel”) must have an improvement. If you have an amount listed in the box labeled “Ass’d Value Improvements” in the upper left part of your tax bill, you qualify for the credit. The amount of the credit will be the same for all parcels within the same school district as long as the value of the improvements meets a small threshold amount. For 2009 the amounts range between $69 and $85 (depending on school district). The credit is divided between the first installment, due January 31st, and the 2nd installment, due July 31st.
