Although Mayor Neil M. O’Leary’s proposed $392 million budget for Fiscal Year 2015-16 is extremely tight, the Mayor has again secured funding for the Elderly and Disabled Tax Credit program.
“This program will help our seniors stay in the homes where they have lived for many years and raised their families,” Mayor O’Leary said in a statement.
The program provides a $150 tax credit to Waterbury homeowners who are at least 65 years old and meet income guidelines. The break is also offered to disabled homeowners who meet the guidelines. The Waterbury Elderly and Disabled Tax Credit Program mirrors a program already offered by the State of Connecticut that gives low-income elderly and the disabled a property-tax break from $250 to $1,250.
Mayor O’Leary initiated the program in 2014 to help offset a mill-rate increase in that year’s budget. Although his proposed spending plan for 2015-16 includes no increase in the mill rate, O’Leary nonetheless insisted the tax credit be included in the budget.
“These are some of our most deserving taxpayers and I remain committed to helping them,” the Mayor said.
Elderly homeowners and the disabled who are enrolled in the state tax credit program are automatically enrolled in the City program and get the $150 tax credit.
The tax credit requires homeowners to fill out paperwork with the Assessor’s Office once every two years. If you think you may qualify for this tax break but are not receiving it, contact our Assessor’s Office at 203-574-6821. Please call soon as the deadline to apply is May 15.