Should seniors earning $75,000 still get a property tax break?
More than 77,000 Kane County residents meet at least the senior age requirements to take advantage of an exemption that would lower their property taxes. But recent, considerable increases to Social Security benefits might make some fixed-income households too rich to take advantage of the program -- unless county board members succeed in a push to address the issue.
State lawmakers set the household income cap for the benefit at $65,000 in 2018. That was a $10,000 jump from the cap that was in place for the preceding decade. by signing up you agree to our terms of service Tepe wants to lobby his local state lawmakers to raise the income cap. But not everyone on the county board, including some of his fellow Democrats, are enthusiastic supporters of the plan.
"That money that is not being collected gets disbursed to those people who are not frozen," Pierog said."Because the money remains the same that needs to be collected. Everyone else picks up that slack, and the amount everyone else will have to pay will increase. The single, working mom, she will have to pay more."
If history is an indicator, Kane County would likely see a record number of senior exemptions if state legislators raise the household income cap. Senior freeze reductions rose 10.75% increased the cap in 2006. They rose 6.23% following the 2008 cap increase. And they rose 17.56% following the most recent cap increase in 2018.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Child hit by bus, seriously injured on County Road 218 in Clay CountyBREAKING: A child was hit in a crash on CR 218 near Melanie Lane, which is southeast of Wilkinson Elementary School and Wilkinson Jr. High School.
Baca lebih lajut »
Multiple people arrested, on the run after Medina County chase ends in Southwest Bexar CountyAuthorities are searching for people who bailed from a vehicle following a chase from Medina County to Southwest Bexar County on Thursday afternoon.
Baca lebih lajut »
Alameda County Supervisor Richard Valle diesAlameda County Supervisor Richard Valle has died, according to tributes posted by multiple Alameda County officials.
Baca lebih lajut »
Why MSCHF's ridiculous red boots are all over your social media feedWhy these absurd red boots are suddenly all over TikTok and Twitter — and listing for as much as $1,000 on StockX
Baca lebih lajut »
Social Security update: Here's why recipients will get two SSI direct payment checks in MarchThe month of March will see Social Security retirement recipients getting two payments, though they typically receive a single payment every month.
Baca lebih lajut »
Why Biden, Republicans fought over Social Security at State of the UnionThe back-and-forth represented a debate Democrats and Republicans have been engaged in for months over Social Security, especially when it comes to government spending and the debt ceiling.
Baca lebih lajut »