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Deduction for Persons over Age 65 or Surviving Spouses
If you own property or a mobile home, or are buying on a recorded contract, and you were over the age of 65 December 31st of the prior year, you could qualify for this deduction if you meet the following requirements:
- Have a combined adjusted gross income of less than $25,000.
- Have an assessed valuation of less than $144,000.
- You owned the property before March 1st of the current year.
For the surviving spouse deduction you must be over the age of 60, and the deceased spouse must have been at least age 65 at time of death. The deduction is either one half of your assessed valuation or $12,480, whichever is less.
Application Form
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