Tax Limitations for 2018

Income Tax Limitations
$0-$29,600
Taxes are limited to 4% of the annual income
$29,601 - $44,400
Taxes are limited to 5% of the annual income
Over $44,400
Does not qualify
Note: Homeowners with incomes of $29,600 and less, that are over age 65 or are totally and permanently disabled should consider the Elderly or Disabled Homestead Exclusion. The exclusion may provide more tax relief than the Circuit Breaker Tax Deferment Program. Homeowner’s cannot be granted both types of property relief.