Freeze

To qualify for the Senior Citizen Assessment Freeze you must have a total household income of 55,000 for the year or less.  Although only a portion of your social security benefits may be taxable on your Income Tax 1040, all your social security benefits are counted as income for this exemption.  Here is the quick formula using form 1040 to see if you meet the income requirement for the freeze:

 

20a  -  20b  +  37  <  55,000

 

Please view these examples:

1040 Qualifying for Freeze.pdf

1040 Not Qualifying for Freeze.pdf

For more information, please view this video.