Economy

Property Tax and Rent Rebate Program From Pennsylvania Gets More Generous

Pittsburgh housing
tupungato / iStock via Getty Images

More Pennsylvanians will now qualify for the property tax and rent rebate, and many will now get more rebate money from the state. On Friday, Governor Josh Shapiro signed legislation that expands the Property Tax and Rent Rebate Program from Pennsylvania. The expanded program will cover almost 175,000 more seniors and double the rebate for many residents.

Expanded Property Tax And Rent Rebate Program From Pennsylvania: What Does It Include?

On Friday, Governor Shapiro signed HB 1100 into law, which expands the Property Tax/Rent Rebate program (PTRR). It marks the first time the program has been expanded since 2006.

Governor Shapiro first proposed the expansion during his campaign, arguing that it would ease the burden of rising costs for seniors. The expanded Property Tax and Rent Rebate Program passed the House and Senate with near-unanimous bipartisan support.

“When I traveled across the Commonwealth on my campaign last year, I heard firsthand from seniors who told me that we need to do more to help them keep up with rising prices…. After more than 17 years, this bill provides a crucial update to the Property Tax/Rent Rebate program that will finally ensure more of our seniors get the relief they need,” Governor Shapiro said in a press release.

Under the new program, almost 175,000 more people will qualify, and rebates will nearly double for many of the 400,000 seniors who already qualify for the rebate. The expanded Property Tax and Rent Rebate Program from Pennsylvania raises the maximum rebate for seniors from $650 to $1,000.

Also, it increases the income cap for renters and homeowners to $45,000 annually. Previously, the income cap for renters and homeowners to qualify for the Property Tax and Rent Rebate Program from Pennsylvania was $15,000 and $35,000, respectively.

Additionally, the new law links the income cap to the increase in the cost of living to ensure seniors qualify for rebates despite the rise in their Social Security benefits.

The new law, however, won’t go into effect until next year. So, the decrease in the number of recipients qualifying for the rebate will continue for this year. Pennsylvania’s Department of Revenue estimates that about 11,000 fewer people will receive the rebate this year.

Who Can Apply And How?

Pennsylvania’s Property Tax and Rent Rebate Program is available to residents age 65 and older, widows and widowers age 50 and older, as well as people with disabilities age 18 and older.

You can apply for the Property Tax and Rent Rebate Program either online or request a paper application. The last date to apply for the rebate is Dec. 31, 2023.

It must be noted that spouses, personal representatives or estates may also apply for the rebate on behalf of the original applicant “who lived at least one day in the claim year and meet all other eligibility criteria.”

Visit Pennsylvania’s Department of Revenue website or call at 1-888-222-9190 for more information on the PTRR program.

This article originally appeared on ValueWalk

Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)

Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.

Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.

Click here now to get started.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.