Reducing property taxes for seniors
November 10, 2014
Seniors often have fixed incomes and rising expenses. About 9% of our seniors live in poverty. For some, property taxes are a significant burden on their small incomes.
I am pleased to share that the County Council unanimously passed my legislation that doubles the senior property tax credit.
Specifically, this bill will reduce the property tax liability for seniors whose property tax payments represent a large portion of their household’s income. In 2012, there were 3,063 recipients and the average recipient received $179.15 from the tax credit. Under this legislation, the average tax credit will double to $358.30. The additional tax credit will begin for the 2015 tax year, starting on or after July 1, 2015.
The age of eligibility will also change from 70 to 65.
While this may seem like a small amount, for our struggling seniors it could mean a lot.
Do you know someone who might be eligible for this tax credit? Please help us reach these vulnerable residents by sharing this information.