Elderly tax break

KnoxNews.com
June 13, 2007

A plan to freeze property taxes for some elderly homeowners is on its way for the governor's consideration.

Voters last fall approved a constitutional amendment to allow for the tax breaks for elderly homeowners, but lawmakers still ran into constitutional problems with the breaks.

Attorney General Bob Cooper wrote in an opinion released earlier this year that local governments could not determine at which income level a property tax freeze can go into effect.

To address that concern, the bill, SB0002, allows elderly homeowners who earn less than the average income of all residents between the ages of 65 and 74 in their county to be eligible for a tax freeze.

Both chambers passed the legislation unanimously. Senate Republican Leader Mark Norris, of Collierville, and Rep. John Deberry, D-Memphis, are the bill's main sponsors.