Homeowners' Property Tax Credit Program (Circuit Breaker)
Who qualifies
- Income limit
- $60,000A homeowner cannot qualify if combined gross income exceeds $60,000, or if combined net worth exceeds $200,000 (excluding the dwelling and certain retirement assets). Credit formula subtracts from the tax bill: 0% of the first $8,000 of combined income, 4% of the next $4,000, 6.5% of the next $4,000, and 9% of combined income over $16,000.
- Ownership
- Homeowner (owner-occupant) meeting the income and net-worth tests. Not restricted by age.
- Residency
- Dwelling must be the homeowner's principal residence where they live at least six months of the year.
How much it saves
No dollar estimate. This credit's amount isn't available.
How to apply
- Application required: Yes
- Deadline: Filed annually with SDAT.
- Renewal: annual — A new application must be filed each year based on the prior year's income.
Combining with other exemptions
May be received in addition to the Homestead Property Tax Credit. Several counties/municipalities offer supplemental homeowners' credits layered on this state program.
Official sources:
Informational only — not legal or tax advice. Exemption rules and amounts are summarized from official statutes and state tax-agency sources as of each program's verified date and can change by legislative session. Dollar figures are estimates derived from Census ACS county tax data, not actual bills. Confirm your eligibility and current amounts with your county assessor before relying on anything here.