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Reply to "Gentrification shaming makes no sense to me. "
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[quote=Anonymous][quote=Anonymous]To add to 17:48's excellent analysis re property taxes--- In addition to the homeowner rate, there are also additional tax breaks given to senior citizens. [/quote] +1. Most senior citizens and disabled people who own at least half the home get a 50% break. It needs to be applied for. There is a high-ish (>100K) income cap for this benefit. There is also the Schedule H tax credit for low income owners and renters. Also needs to be something you file to claim. People can claim these things on $1 million homes. Low income seniors don't really need to begin to pay property tax until their assessed value is >$400K, and one of the lowest rates in the country above that. I used to help people apply for these things, often filing refund claims for as many open years back as possible for people. I think the problem is many people don't know they exist or don't bother to apply.[/quote]
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