Over 65 Credit (New to taxes in 2026)
IC 6-1.1-51.3-1
The Over 65 Credit is applicable to property owners at least 65 years old, have owned property for at least 1 year, and meets the below Federal Income Tax income requirements. The credit is equal to $150.
Ownership Type Scenarios | Federal Income Adjusted Gross Income Maximum to Qualify |
Individual, files a single return | $60,000 |
Married, files a joint return | $70,000 |
Multiple Owners, multiple returns | Combined adjusted gross income $70,000 |
*A credit may be claimed by a surviving spouse of a 65-year-old, if the surviving spouse is at least 60 years of age and not remarried.
*If individuals share ownership as joint tenants or tenants in common and not all tenants are over 65, the credit will be reduced.
Over 65 Circuit Breaker Credit
IC 6-1.1-20.6-8.5
The Over 65 Circuit Breaker Credit will prevent property tax liability from increasing more than 2% more than the previous years. The credit is applicable to property owners at least 65 years old, qualifies for the homestead, the value of individual’s Indiana real property cannot exceed $240,000, and meets the below Federal Income Tax income requirements.
Ownership Type Scenarios | Federal Income Adjusted Gross Income Maximum to Qualify |
Individual, files a single return | $60,000 |
Married, files a joint return | $70,000 |
Multiple Owners, multiple returns | Combined adjusted gross income $70,000 |
Age 65 Deduction & Circuit Breaker Credit Deduction Application