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A Property Tax Circuit Breaker is a tax refund in the United States given to low income individuals and families whose property tax liability is a large percentage of their yearly income. The term was coined by John Shannon of the Advisory Commission on Intergovernmental Relations in the 1960s.
The easiest way to check a refund's status is by using Where's My Refund? on IRS.gov or the IRS2Go app. No more state income tax? Ohio Republicans unveil plan to scrap $10B revenue source.
The IRS issues most refunds in about three weeks, but it could take four weeks or more to process your return if you mailed it in as opposed to filing taxes electronically.
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Property tax rates in Indiana are capped a maximum of 1% of value for residential, 2% of value for rental and farmland, and 3% of value for all other types (the actual rates may be higher, but the maximum paid after deductions is capped through a "circuit breaker" tax credit). [8] The property taxes are assessed ad valorem.
Where’s my refund? After you file, you can check your refund and return status on the IRS website. Your refund status will be available: 24 hours after you e-file a current year return.
Angie's List and NBC Bay Area both highlighted an October 2002 ruling in a New Jersey Superior Court, which found that FPE (Federal Pacific Electric), the manufacturer of the Stab-Lok breakers and panels, "knowingly and purposefully [sic] distributed circuit breakers which were not tested to meet UL standards as indicated on their label".
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