Pennsylvanians could qualify for $1,000 after the state expanded its property tax and rent rebate program.
In 2024, Governor Josh Shapiro promised that older residents would receive more financial help after he signed Act 7 of 2023. The law expanded the Property Tax/Rent Rebate (PTRR) to provide a larger tax cut for Pennsylvania seniors.
Due to the expansion, about 175,000 more Pennsylvanians will earn the property tax or rent rebate. Additionally, a significant number of the 430,000 who originally qualified will see their rebates increase.
Beginning in mid-January, the commonwealth's Department of Revenue will open the new filing period for the rebate program. The rebate applies to all property taxes and rent paid in 2023.
Michael Ryan, a finance expert and the founder of michaelryanmoney.com, said the rebate is intended to lend a helping hand to those who need it most.
"It's like finding an extra $20 in your winter coat, a small surprise that makes a big difference," Ryan told Newsweek.
What's Different This Year?
In 2024, Pennsylvania's maximum rebate will be $1,000 compared to 2023's $650.
The income cap also changed for renters and homeowners, meaning more people will qualify. Now, renters and homeowners can receive the rebate as long as they make $45,000 a year or less.
Originally, homeowners who made $35,000 or less and renters who made $15,000 or less were eligible for the rebate program.
Pennsylvania also outlined that moving forward, income caps will be tied to cost of living, so those who receive a rebate won't unfairly lose eligibility in the future.
There are additional supplemental rebates available in the state as well. For those living in Philadelphia, Scranton or Pittsburgh who make $30,000 or less, up to $1,500 is up for grabs. The rebate is available to those who fit the previous criteria and also pay property taxes that are 15 percent or more of their income.
Keep in mind, the Property Tax/Rent rebate is only available to Pennsylvania residents aged 65 and older, or widows aged 50 and older along with all people with disabilities age 18 and older.
Deadline Is December 31
The deadline to file for the rebate is fast approaching on December 31, 2023.
"We encourage all Pennsylvanians who are eligible for this program to apply—and to do so by filing online through myPATH. We have already seen more than 80,000 applicants take advantage of this online filing option this year," Secretary of Revenue Pat Browne said as reported by local ABC 27 station.
"This program is a lifeline every year for hundreds of thousands of people and helps many of them to stay in the comfort of their homes. We want to do everything that we can to ensure that everyone who is eligible receives this vital assistance."
As inflation remains high at 3.1 percent and Americans continue to navigate an uncertain economic environment, the rebates reflect Pennsylvania's understanding of what residents are going through years after federal stimulus payments ended, Ryan said.
"This change reflects an understanding of the ongoing economic recovery challenges," Ryan said. "Think of it as Pennsylvania's way of saying, 'We see you, and we're here for you,' especially during these bumpy economic times."
