County Executive Leopold Proposes Amendment Increasing Property Tax Relief for Seniors
Annapolis, MD (March 15, 2007) - County Executive John R. Leopold today asked the County Council to support an amendment to Bill 8-07 that would give thousands of seniors on fixed income additional tax relief.
The original legislation submitted to the County Council provides a bonus of 10% to a supplemental credit offered by the county to a state program known as the "circuit breaker" Homeowners’ Property Tax Credit. County Executive Leopold’s amendment would take that credit from 10% to 30%, offering a tax credit of approximately $90 annually. The credit would apply to any resident 70 years old or older who has lived in their county home for at least 10 years.
"Turnover savings have enabled me to follow through with my pledge to enhance the bonus to senior citizens on fixed incomes, and allow them to remain in their homes," said County Executive Leopold. "This will also help to protect them from soaring assessments."
Last year, 4,038 County residents received the credit, and 2,823, or 66 percent, are eligible for this credit. If the County Council supports the amendment, seniors who are eligible would receive close to $1,100 in combined State and County tax credits.
The estimated cost of the increased tax credit to the county budget would be approximately $150,000 annually.
The amendment will be introduced Monday, March 19th.