NerdWallet's 2017
household debt study shows that several major spending categories have outpaced income growth over the past decade; many Americans are putting medical expenses on credit cards; and the average indebted
household is paying
hundreds of dollars in credit card interest each
year.
Qualifying users are (1) low - income people, whose
household income is below two -
hundred fifty percent (250 %)
of the Federal Poverty Guidelines, (2) are not incarcerated, (3) have less than five thousand
dollars ($ 5,000) in total assets and (4) are at least 18
years old.
An exemption equal to the assessed value
of the property to a person who has the legal or equitable title to real estate with a just value less than two
hundred and fifty thousand
dollars, as determined in the first tax
year that the owner applies and is eligible for the exemption, and who has maintained thereon the permanent residence
of the owner for not less than twenty - five
years, who has attained age sixty - five, and whose
household income does not exceed the income limitation prescribed in paragraph (1).