Reimbursement

Abatements

Abatements are reported on the Summary LODA-1 form submitted with the disaster packet. Along with the Summary LODA-1 form, the county should include a detailed breakdown by taxing jurisdiction certifying how the local tax was abated. If each taxing jurisdiction had their portion of the abatement reduced, then the payments will go to the jurisdictions certified. If the county reimbursed the local taxing jurisdictions directly, the county would then certify that the local jurisdictions received the full tax amounts at the expense of the county so the county can be reimbursed in full.

The only amount reimbursed is the amount listed as local tax. The state tax is not directly reimbursed to the jurisdiction. The jurisdiction should instead underpay future state general tax remittances as instructed on the P-100 to make up the difference. If the next payment is not enough to cover the full cost of the abatement, then the jurisdiction may continue to underpay until the full amount has been withheld.

Credits

The Local Option Credit and Homestead Credit are reported on the PRISM 3 submission in the year that they are applied. Instructions for reporting the credits can be found in the PRISM instructions. The amounts will then be reimbursed at the end of the year.