PROPERTY TAX REDUCTIONS

By Bob Katzen

Senate 39-0, approved a bill providing a variety of property tax breaks for seniors, veterans and disabled persons.

Provisions include raising from $1,000 to $1,500 the amount of property tax reduction veterans can earn by doing volunteer work in their city or town; creating a new local option property tax exemption for deaf persons of $5,000 of taxable valuation or $437.50 of actual taxes due, whichever is greater; and allowing more homeowners over 65 to qualify for the state’s $1,070 “senior circuit breaker” tax credit.

Supporters say it is up to cities and towns whether to offer these tax breaks because the breaks are not state-mandated. They note the reductions will be good for countless low-income seniors, military personnel and disabled persons and might even help some of them remain in their homes, rather than having to move because they can’t afford to pay their property taxes.

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