More than 90 percent of Tucson families will receive child tax credit, survey finds
TUCSON, Ariz. (KOLD News 13) - Many Tucson families will start seeing monthly payments of the child tax credit rolling into their bank accounts on July 15.
“It’s really exciting to think about doing things educational and generally saving for our family,” said Allison Karsh, a mother of two.
More than 90 percent of families in Tucson will get the full child tax credit, according to Lending Tree.
“Tucson was one of the cities in the country who had the highest percentage of folks who will qualify for the full benefit,” said Matt Schulz, the chief credit analyst at Lending Tree.
Single parents making less than $75,000 and married couples making less than $150,000 will receive the entire credit.
“If you go above those thresholds, you have declining amounts that you get,” he said. “It’s also based on how many kids you have and the age of those kids.”
Half of the tax credit will roll out in the monthly payments from July to December. Then families will receive the other half in a lump sum next year with their tax return. Lending Tree says the average Tucson family will receive a total credit of more than $7,000. For families like Allison’s, it’s money that can make a big difference.
“It’s really a great thing to prioritize families and children and that’s an outstanding way to invest in our country and our country’s future,” Karsh said.
Learn more about the child tax credit and how much you can expect to receive, here.
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