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Tennessee Seniors Hope For Property Tax Freeze
WKRN.com
June 7, 2007
For weeks now, state lawmakers have been talking about tax relief as part of their loud budget battle.
Most of the words are about some kind of reduction on the sales tax you pay in grocery stores, but there is also a plan which would help at least 300,000 Tennesseans by freezing the property tax for seniors.
Jessie O’Neal and her husband have owned a home, on a corner lot in the Glencliff area for more than half a century.
She said, “Oh honey when we moved here property taxes were about $200, less than $300 a year.”
Now, O’Neal pays about $1,800 yearly for the home she and her husband bought for $13,000 in the 1950s.
“Worry is what us older people are worried about… if taxes keep going up,” she said.
State lawmakers have people like O’Neal in mind as they think about a freeze on property tax increases for seniors.
Senator Mark Norris said, “Very close to being presented in both finance committees… I think we will have legislation before we adjourn.”
O’Neal said that makes a lot of sense for seniors because most of her age-group is on fixed incomes.
She said, “If you have a $30,000 dollar income, a tax break would be a big help, but of course in some ways, that is a lotmoneys.”
It is estimated more than 300,000 Tennesseans like O’Neal would be affected.
The bill will be considered right after lawmakers wrap up their ongoing state budget debate.
The freeze would apply to only a primary residence and not a second home.
More than 1.4 million Tennesseans voted last fall to change the state constitution to allow the senior property tax freeze.
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