The Greensboro city government has launched a pilot program to provide a partial refund of property taxes paid last year to aid low-income homeowners facing higher costs due to inflation.
Pilot program ( Photo: The Business Journals )
The pilot program has set aside $250,000 and has been approved by the City Council of Greensboro in March
To qualify, you must be a resident of Greensboro, have lived in the home for the past five years, and your house’s property tax value must be less than $250,000. Additionally, you must have last year’s tax return and proof of household income, and your home must have experienced a property revaluation increase as part of the 2022 Guilford County tax revaluation.
The refund amount is the difference between what people paid in 2022 compared to 2021 and ranges from $50 to $150. The application opened on April 15, and the last day for homeowners to apply is June 15. The Greensboro city government aims to ensure that low-income homeowners are not adversely affected by re-evaluations and inflation and wants to make sure they’re stable in their homes.
The program is part of several other states’ initiatives that have passed rebates to support residents during times of rising prices
For instance, California has implemented two guaranteed income programs in El Monte and Sacramento to help low-income families afford basic needs like food and utilities. Eligible residents can earn $500 monthly for a year. Colorado is sending out money as part of its Property Tax, Rent, Heat Credit (PTC) Rebate, where eligible individuals can receive up to $1,044 a year. Connecticut also issued a one-time relief check worth up to $1,000 this year, and Connecticut workers earned the payment from a $30 million pot.
Meanwhile, the IRS is warning Americans not to miss out on the chance to claim $863 in refunds. The Greensboro city government has set aside $250,000 for its pilot program and encourages residents to apply soon to take advantage of the funds.
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