Moore on seniors' taxes

shwineka — Fri, 22 Feb 2008 11:27:56 -0500

Richard Moore wants more seniors to qualify for property tax homestead exclusion.

Moore said he wants to double the income limit from $25,000 to $50,000 for those wishing to qualify for the property tax exclusion. According to his campaign, this would cut about 100,000 seniors citizens' tax bill in half.

He has also proposed freezing property values for residents over 65 who have lived in the same house for more than 20 years and those that have an income less than $50,000 a year.

The homestead exclusion currently reduces the value of qualifying residents' homes by $25,000 or 50 percent, depending which is greater. Moore says raising the income limit would open the option to 200,000 additional senior households in the state.

The income limit rose to $25,000 from $20,500 at the beginning of 2008.