Politics

Bigger tax break for seniors?

Commissioners consider offering a larger homestead exemption to those with low incomes.

By BARBARA BEHRENDT, Times Staff Writer
Published September 14, 2007

BROOKSVILLE - At the start of Thursday evening's much-anticipated hearing on the county budget, the County Commission unanimously agreed to explore giving low-income seniors a bigger tax break starting in 2008.

Commissioner Dave Russell said approving an additional $50,000 in tax exemptions for qualifying seniors was the board's "fiduciary responsibility." He said the most needy citizens should not face losing their homes because they cannot pay property taxes.

The commissioners set a public hearing for 5 p.m. Sept. 27 on the issue.

To qualify, residents would have to be over 65 and meet the current income requirement, which is that the adjusted gross income of the entire household must be no more than $24,000. That amount adjusts each year with the Consumer Price Index.

In 1998, Florida voters approved the Low Income Senior Homestead Exemption as an amendment to the state Constitution. Legislation the following year allowed cities and counties to add up to $25,000 in homestead exemption for low-income seniors in addition to the $25,000 available to all eligible home owners. Last year, Floridians voted to add another $25,000 exemption for low-income seniors.

Property Appraiser Alvin Mazourek has estimated that the increased exemption could be available to 4,665 county property owners next year. If the commissioners increased the exemption by $25,000, that would mean a loss of $630,000 in tax revenue. If the commission went with the current maximum additional exemption of $50,000, that could cost Hernando County $1.05-million in tax revenue.

Barbara Behrendt can be reached at behrendt@sptimes.com or 848-1434.

[Last modified September 14, 2007, 06:42:55]