The Daily Retina
CASH is heading out to eligible Americans from an $18million pot and is scheduled to arrive by the middle of next month.
In late 2022, the Richmond City Council in Virginia approved a tax rebate that’s now being referred to as the “Five Back” program.
The rebate is worth five cents for every $100 paid on real estate property tax[/caption]
This is because the city is returning five cents for every $100 that residents have paid on real estate property tax.
The rebate is made possible thanks to a $18million budget surplus for 2022.
“City Council proposed an ordinance to offset the rise in taxable assessed values and provide relief to taxpayers by returning the surplus funds,” an announcement from the Richmond Department of Finance reads.
ELIGIBILITY
To qualify for a payment, you’ll need to have been a Richmond property owner who paid real estate taxes in full by the January 2022 billing date.
Also, you must have been the property owner, as of the second billing period of the fiscal year, which ended June 30, 2022.
Those eligible can calculate their rebate by dividing their total taxable property value by $100 and then multiplying that amount by five cents.
“For example. A taxable property assessed at $249,000.00 in 2023 will receive a $124.50 rebate or credit amount ($249,000.00 / $100.00 x $0.05),” the DOF said.
Those who are due less than $30 will instead get a credit on their next real estate tax bill.
The U.S. Sun reached out to the agency to see how many people are eligible to receive money and to see if there is an estimated average rebate amount.
With checks going in the mail now, all are expected to arrive by April 14, reports local news outlet WWBT.
OTHER REBATES
Meanwhile, Richmond isn’t the only one in the country offering a rebate.
In fact, the state of Georgia just approved a new income tax rebate worth up to $500.
To qualify for this year’s rebate, you must have filed both 2021 and 2022 taxes and live in the state.
If you file on or before April 18, you can expect your cash by July 1.
South Carolina is sending out tax refunds of up to $800 for those who filed their taxes by the February 15 extended deadline.
Recipients must have a tax liability to receive the payments.
Those with a tax liability below $800, will receive a rebate equal to that figure.
Those with liabilities of $800 or greater will get that exact amount and no more.
Maine is distributing relief payments of $450 to most residents to help them offset surging energy costs.
The state is promising to send out all payments by the end of the month.
And Alaska is sending out another round of its Permanent Fund Dividend (PFD) payments next month.
The $3,284 payment represents a portion of the state’s oil and gas revenues that are annually paid to most residents.
This year, however, there is an energy relief check attached to it.
For more related stories, here are the 12 states offering payments to parents worth up to $1,000.
And see if you’re one of the millions that can claim direct payments worth up to $3,600.
Source: The US Sun