Join Today
Results 1 to 4 of 4
  1. #1
    CorsetWKit
    Guest

    Any Mid-Atlantic or Northeastern States with Prop. Tax Breaks to Seniors?

    As I still continue to scan for low-cost retirement living (single home only), I am wondering if anyone knows of any areas in the MA or NE region which give SIGNIFICANT property tax breaks to seniors (other than DE which I've got my eye on)?

    SEPA property taxes, mostly for the school districts, are getting completely outrageous, and I'm not going to be able to continue to afford them on SS and a small pension once I officially "retire." If you've heard of anywhere in my selected area, please post, as I would love to check it out.



  2. #2
    North Carolina has sort of a homestead exemption for retired over 65 people. You can check it out online.
    https://www.dornc.com/



  3. #3
    Interesting you being in Raleigh and considering it to be Mid Atlantic. Not that I disagree being here and wondering myself. But sorta curious and I wonder how many would agree?

    OP would NC be in your target area? If so consider it.

    Maryland gives breaks below a certain income level.



  4. #4
    DanishScere
    Guest
    Pennsylvania remits a portion of Lottery money to homeowners, it used to be $600/year maximum on a sliding scale based on income to over 65 or disabled homeowners (Lottery money also helps pay prescription costs for them). I don't know what it is now since it's been several years since I handled the paperwork for my mother. The state also doesn't tax pensions.

    Maryland has a Homestead Exemption for all owner occupants that limits the increase in property taxes to 10%/year (some jurisdictions are lower). For poor elderly there's a Circuit Breaker (that's the name, don't ask me why) exemption but the income limit is really low and the deferred taxes have to be repaid when the subject property is sold. Maryland also taxes pensions




 

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •