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Over 6,790 Households in New Lenox to Receive Rebate Checks from County Tax Legislation
Eligibility Criteria for New Lenox Property Share Rebate: Age, Residency, and Ownership Requirements
According to The US Sun, in the upcoming days, qualified individuals living in the Village of New Lenox, Illinois will commence receiving rebate checks due to their county’s tax legislation. New Lenox, Illinois has initiated the issuance of rebate checks to nearly 6,790 households with checks being dispatched on March 4. Eligible residents were notified about the rebate through a form distributed in October which accompanied their water bills. It is important to note that this tax form arrives separately from the water bill and is typically a different color.
This year’s reimbursement encompasses the entire property share of the Village. To be eligible, residents need to fulfill certain conditions detailed in the tax documentation. This involves maintaining continuous ownership of Homestead Real Estate throughout the period from January 1 to December 31, 2022, being homeowners aged 65 or older by December 31, 2023, residing at and owning the specified address, and not receiving any rental income from the property in 2022. Additionally, residents must not have any outstanding debts, tickets, or violations owed to the Village of New Lenox.
$2.2 Million American Funds Available in Payments – Claim Your Share!(PHOTO: getty images)
Potential Tax Savings Up to $6,000 with Federal Solar Tax Credit Depending on Solar Investment
The village stresses the residents’ duty to report this rebate to the IRS as part of their annual income tax filing especially if applicable. To be eligible, taxpayers must be up to date on all 2022 real estate taxes. Besides the local rebate, qualified individuals may also benefit from a Federal Solar tax credit and providing a deduction worth 30% of the total investment made in solar installations. This credit encompasses costs such as solar panels, solar water heaters, contractor labor expenses and more, offering potential reductions in tax bills by up to $6,000, depending on the investment in solar energy installations.
