If you are 65 or over, you make take the credit against regular school property taxes assessed on your primary residence.

If you and your spouse own the property as tenants by the entirety, the property is treated as if wholly owned by each spouse for the purposes of this credit. However, no more than one credit per property may be granted in any one year.

EXAMPLE 1: John and Jane Doe are married and jointly own their home. Jane is 66, but John is only 63. Jane may apply for the senior property tax credit without prorating the credit amount between she and John, even though they own the property jointly and John is not yet 65.

EXAMPLE 2: Harry and Sam Smith are married and both over 65. They are joint owners of their home. Harry and Sam may apply for the credit, but only one credit may be awarded for their home in any one year.

The law does not prevent more than one person from claiming a credit for the same property (provided they meet all established qualification criteria). However, no more than one full credit may be taken per property. Your share of the credit is determined by your ownership interest in the property.

EXAMPLE: Ethel O’Brien and Marvin Jones are co-owners of a home that they both occupy. Marvin is 66 and Ethel is 65. Marvin qualifies and may apply for the credit. However, the value of the credit for each person is reduced to reflect the fact that the property is co-owned and only one credit may be taken per property.