Johnstown, Colorado, has approved a $1 million fund to provide property tax relief to thousands of residents. The rebate was proposed after recent property valuations increased taxes, raising the town’s revenue by more than 35% in 2023.
Thanks to the new rebates by the town and the state, the increase is now just over 5%. The state has also decided to reduce property taxes, bringing the total relief to over $1 million. According to the Greeley Tribune, property owners in Johnstown may qualify for significant rebates of up to $650,000.
To receive the rebate, residents must meet two criteria. First, they must be listed as a property owner with their county. Second, they must pay off all their property tax obligations by June 15, 2024. If both conditions are met, homeowners should receive a check in the mail by late August or September. The town said the check should be received by October 7, 2024.
The rebate amount depends on the homeowner’s tax burden, which is based on the value of their property. Once the check is issued, it will be valid for only 180 days. Failure to cash the check within that time will void the payment, which the town said cannot be reissued.
This program is one of many across the country that is offering cash payments to locals. For example, in Connecticut, cash is available to help cover emergency energy bills, with a maximum payout of $500 per year for eligible individuals.
Some programs offer more money with fewer conditions attached. Expectant parents living in Humboldt County, California, may be eligible for monthly $920 payments as part of a guaranteed income scheme. Similar income guarantees have been tested nationwide recently, offering a potential alternative to traditional welfare. In California, expectant mothers and former foster children could see income guarantees.
The Johnstown rebate program is a welcome relief for many residents struggling with increased property taxes. The program is expected to help thousands of residents in the town and provide much-needed financial support during these uncertain times.
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