2019.08.12 Council Agenda Item 5
Summary
Order to increase the income eligibility for Senior Property Tax Relief to $40,000 annual income.
A public comment period will be included with this item (3 minutes per person).
ACTION: Council action is anticipated.
Description
The Council approved a Senior Tax Assistance Program as part of the FY19 and FY20 Budget processes. The FY19 program was budgeted at $75K and was available to all residents over the age of 62 with annual income less than $30,000. Actual spending on the program for FY19 was $20,501.
The FY20 Budget for Senior Tax Assistance is $50K. Staff presented an overview of the FY19 program including eligibility requirements, award calculation, and the communication plan at the July 22, 2019, Town Council meeting. That presentation reviewed the results of the FY19 program and offered an analysis of various income threshold amounts for consideration. The Town Council requested an increase in eligibilty regarding income limits. This order will increase annual income eligibility limits from $30,000 to $40,000.
