Centerville voters to decide on property tax change for seniors | Elections | Macon.com

4
Oct

Centerville voters to decide on property tax change for seniors | Elections | Macon.com

CENTERVILLE — Voters will decide Nov. 5 whether senior citizens 70 and over will continue to pay no city property taxes or whether they will be given a $50,000 tax break instead and pay a portion of the taxes that go toward city services such as police and fire protection.

Property taxes are calculated using 40 percent of the assessed value, which would amount to $60,000 on a $150,000 home. Under the proposal under consideration, senior citizens would get a $50,000 break and only pay taxes on $10,000 of the home’s value.

Using that formula, older residents with property valued at $125,000 or less would not have to pay property taxes even if the $50,000 break goes into effect, city officials said.

City Council members decided in May they would put the issue before voters, who have the final say on whether the senior exemption stays at its 100 percent level or is changed.

City officials hope to recoup at least some of the tax revenue lost annually through the exemption. Councilman Ed Tucker, who introduced the measure to put the question on November’s ballot, said the city loses about $200,000 a year because of the full senior exemption.

via Centerville voters to decide on property tax change for seniors | Elections | Macon.com.

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