Recipients of a $250 deduction as a Senior Citizen or as a Permanently Disabled Individual must file a statement confirming their eligibility for the deduction after the close of each tax year. This statement, called the Annual Post-Tax Tear Statement (or PD5) is mailed by the Tax Collector to each deduction recipient in January. The form must be completed, signed and returned to the Tax Collector on or before March 1st. Failure to file the form will result in the deduction being charged back for the corresponding year.
The PD5 requests the deduction recipient to confirm:
- They did not exceed an income of $10,000, not including Social Security or certain government or railroad pensions (combined income for spouses) for the deduction year just past.
- They do not anticipate exceeding the above income limit for deduction year just started.
- They still met the residency, disability, and/or marital status requirements indicated.
If the property is sold, this form must still be completed by the deduction recipient in order for the deduction to remain in a prorated amount for the portion of the year they owned the property.