City Council To Consider Elderly Tax Exemption Tonight
City Council President's proposal increases exemption to $12,000.
As the Budget Commission considered their plan to plug the $14.5 million deficit, including a second stab at a supplemental tax, Council President John Ward said he'd introduce tax exemptions for elder citizens.
Ward's following through on that promise later tonight at the City Council meeting, 7 p.m. in Harris Hall at City Hall, 169 Main St. with an ordinance that would hike the elderly tax exemption from $2,000 to $12,000.
The current ordinance is outdated, and needs to be edited to provide the tax relief originally intended.
To qualify, you've got to be 65 years old or older, have lived in the city for at least five years, and not make more than $30,000 (see the attached pdf).
Ward said the ordinance would help make up some of the ground older residents lose with the phase out of the homestead exemptions.