What is the income tax credit for property taxes paid to a Connecticut political subdivision?
If you are a Connecticut resident and made qualifying property tax payments on your eligible property, you may be able to claim a credit against your 2006 Connecticut income tax liability. The maximum property tax credit is $500 per return. 2. What is my eligible property? Your eligible property is your primary residence (if owned by you) or your privately owned or leased motor vehicle. See Questions 8 and 9. 3. What are qualifying property tax payments? Qualifying property tax payments are payments of property taxes on your eligible property that: • You made during 2006 to a Connecticut political subdivision and for which you are liable (or if you file a joint return with your spouse for which you, your spouse, or both of you, are liable); and • First became due during 2006, including supplemental property taxes on a motor vehicle that first became due during 2006. Where property taxes are due and payable in two or more installments, each installment is first due on the date designate
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