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Wednesday, May 4, 2016

About the Circuit Breaker

Friday, June 20, 2008

The Circuit Breaker cap, which was passed in 2006 and became effective this year, sets a maximum amount of property tax that can be collected on a property's gross assessed value. The following are the cap levels for the tax years of 2009 and for 2010 and after:

Property Class20092010 and after
Homestead1.5 percent1 percent
Rental Property2.5 percent2 percent
Agricultural Land2.5 percent2 percent
Long-Term Care Property2.5 percent2 percent
Non-Residential Real Property3.5 percent3 percent
Personal Property3.5 percent3 percent

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