RC Council Adopts Poverty Exemption Policy and Guidelines
Thu, 01 Mar 2018 06:03:38 EST
The Rogers City Council has adopted their 2018 Poverty Exemption Policy and Guidelines.
As required by state law, the document basically outlines considerations the Board of Review must apply when a property owner requests an exemption or tax reduction.
Standard items include the applicant required to be the legal property owner of their principal residence, have filed state and federal income taxes the previous year, providing income and asset information, and having to meet income and asset tests.
The latter is a formula based equation using income and asset information to determine if an applicant qualifies for an exemption.
Creation of the policy and guideline ensures that all are treated equally, using the same identical standards and leaves nothing to subjective approval.
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