Are there tax benefits available for property owners?

Yes, the town offers a benefit to residents age 65 and older, 65 as of 7/1/2022, and also for residents who are totally disabled. For proof of disability an Award Letter is required from Social Security only for the first year applying for the benefit.

Applications are available between March 1, 2022 to May 16, 2022.  The deadline to submit an application is May 16, 2022. To apply, the Tax Office needs the application filled out and signed, along with copies of your 2021 signed Federal Income Tax return and a copy of your 1099 statement from social security. When considering an applicant for this benefit, all sources of income are taken into consideration; this includes, but is not limited to, interest bearing accounts, social security income, wages, pensions and annuities, rental monies, etc.  Please bring your 2021 completed tax return  when applying for this benefit along with your 2021 Social Security 1099.

The application must be signed by either the applicant or an individual who has Power of Attorney. We would need a copy of the Power of Attorney.

The applicant must have resided in Newtown and paid real estate taxes for one year prior to 5/15/2022 to qualify for the benefit.

Delinquent taxes must be paid in full by 6/15/2022 before qualifying for the benefit.

The property for which the taxpayer is claiming tax relief must be his/her legal domicile and occupied by that person for more than 183 days each year.

Your assessed value must be less than 200% of the median assessed value of real property in Newtown. The median assessed value for October 1, 2021 is $242,490 so your assessed value cannot exceed $484,400.

Your qualifying total asset value cannot be more the $900,000 excluding your primary legal residence and all tangible personal property contained therein.

If you made under $45,000, you are eligible for $2,900 off your taxes.

If you made between $45,001-$55,000, you are eligible for $2,000 off your taxes.

If you made between $55,001-$65,000, you are eligible for $1,500 off your taxes.

If you made between $65,001-$70,000, you are eligible for $920 off your taxes.

Applicants need only apply every two years unless there is a significant income change.

After all benefits received the homeowner would be required to pay 25% of their total tax amount.

Additional Benefits are available in the Assessor's Office.  Please see the Assessor's Office frequently asked questions.