Percentage of Ownership
When a homestead is owned by someone other than the Claimant and member(s) of the household, the eligible property tax or homestead value is the percentage owned by the household members.
Example: James, Grace and Lucinda jointly own a home and all live in the home. Lucinda is the Claimant. She can use 100% as all owners live in the home.
Example: Tim and Dan own a home. Tim lives in the home. Dan does not. Tim is the Claimant. He can use 50%, as this is his ownership interest in the home.
Value of Homestead Allocated from Land Trust, Value Allocated from Cooperative, Value Allocated from Non-Profite Mobile Home Park
The entitiy certifies the amount of property tax allocable to your land or unit for the 2005/2006 property tax year. Enter the property tax amount shown on the letter form land trust, cooperative or non-profit mobile home park.
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