Township approves poverty exemption guidelines for 2024 property taxes

Exemption may be requested from the Board of Review.
Laketown Township Hall, 4338 Beeline Road.

Laketown Township residents can get some property tax assistance after the township board on Jan. 10, 2024, unanimously approved poverty exemption guidelines that surpass federal requirements.

The exemption may be requested from the Laketown Township Board of Review.

“This is available for residents truly in poverty,” said township Manager Al Meshkin.

“I think it’s a good thing. I hope we can help someone out,” said township Treasurer Jim Johnson.

Qualifications

To qualify for the exemption, a resident must own and occupy the principal residence for which the request is made and produce the proper paperwork including federal and state income tax returns. Household assets cannot exceed 100 percent of household income. Those assets include vehicles, furniture, appliances, stocks, bonds, bank accounts and pensions.

The Laketown Township poverty guidelines are:

Size of family unit: 1 — Income guidelines: $17,148

Size of family unit: 2 — Income guidelines: $23,193

Size of family unit: 3 — Income guidelines: $29,237

Size of family unit: 4 — Income guidelines: $35,283

Size of family unit: 5 — Income guidelines: $41,328

Size of family unit: 6 — Income guidelines: $47,374

Size of family unit: 7 — Income guidelines: $53,420

Size of family unit: 8 — Income guidelines: $59,464

For each additional person, add $6,046

Details

Laketown’s income levels are 17.61 percent above the federal poverty guidelines. The township came to that number because the median value of owner-occupied housing units are 17.61 percent higher than the national median value.

For details, visit the state website here.

For more information, contact Laketown Township Assessor Heather Jahr at heather@laketowntwp.org or (616) 335-3050.