Representative Mike Madden was a guest on the June 1st edition of Public Pulse, and he wants to remind Wyoming homeowners that the deadline is fast approaching – June 6th – to submit an application for a property tax refund for up to one-half of last year's property taxes.
Madden told host Kim Love.
Provisions in the program specify that the maximum refund a homeowner may receive is equal to one-half of the median tax obligation in each county. For Johnson County this time around that amount is up to $468; in Sheridan County the amount is up to $605.
Madden says that there's nothing to the application process.
Madden says that eligibility guidelines include that a household income cannot exceed $41,200, and financial assets such as stocks and bonds must not exceed $204,000 for a two-person household.
However, assets such as personal household property automobiles and the residence itself are exempt and not counted in asset totals. Residences that have been put in another's name for estate planning purposes are eligible, as long as the applicant lived in and paid the taxes on the residence.
Madden adds that last year, more than 530 homeowners in Johnson and Sheridan counties took advantage of the program.
To learn more, call (307) 684-9356.