Tax Aids and Credits

Credits - Prior Year Credit Adjustments

Statewide Outcome(s):

Prior Year Credit Adjustments supports the following statewide outcome(s).

Efficient and accountable government services.

Context:

Prior Year Credit Adjustments are paid to account for abatements, court orders, omissions, and other adjustments to credits. Adjustments for the Agricultural Preserve, Homestead Disaster, Local Option Disaster, and Disparity Reduction Credits are currently included. The Homestead Market Value Credit was to be included prior to its repeal.

Funding Source: State General Fund.

Strategies:

Payments are made for accounting corrections.

Results:

The correct amount of credits is paid.

Performance Measures Notes:

Adjustment amount compares payable year 2010 (previous) to 2012 (current).

Adjustments will drop in future years due to the repeal of homestead market value credit.