MURFREESBORO, Tenn. (WTVF) — What if turning 65 also meant your property taxes would disappear?
In Tennessee, there are some tax relief programs for seniors, but a lot of people don't qualify. Your income, including spouse, and all owners of the property, can not exceed $33,460.
Because so many seniors aren't eligible, there's a proposal on the table to create a Golden Homeowners Tax Relief program that could potentially help all senior homeowners.
Rutherford County Property Assessor Rob Mitchell is actually leading the charge to update Tennessee's age-based, income-based tax relief programs. The original program was designed in 1973 — when things cost a lot less. Today, a low-income senior who owns a $375,000 house saves no more than $145 a year.
"That's groceries for a week, maybe if you're frugal and clip coupons," said Rob Mitchell.
According to Mitchell, the current Tennessee property tax relief program provides essential support to homeowners aged 65 and above that meet minimum income requirements.
This new tax relief proposal seeks to expand the program, offering “golden" homeowners a full reimbursement of their property taxes. Under the proposal, past taxes wouldn't be reimbursed only taxes paid going forward. Mitchell says he's pushing for this because property values and property taxes in Tennessee have grown dramatically in the last few years to the point of forcing some of our elderly, fixed-income citizens out of their homes.
"Help your seniors who have worked in your communities and helped build your communities," Mitchell said.
Katherine Smith, 75, owns a home in La Vergne. She's paid property taxes for 52 years.
"We're on a fixed income," Smith said. "We're not making any more money. My husband is handicapped, and he can no longer work, so I have to stay close to the house too, and I no longer work. When you don't have more money coming in, social security really doesn't give us any raises, your pension plans may have they will never give you a raise, so there's not any more money coming in, but there's always someone who is wanting more money for us."
Smith says everyone wins in the end.
"Someday you're going to be sitting where I am looking for places where you can save money and cut back," she said.
The property assessor believes Tennessee can afford to do this because it regularly has a billion-dollar surplus.
Read the whole proposal and check out the petition here.
