Fewer seniors in Howard County should qualify for a property tax cut, a task force recommended.
Changes to the income and assets limits would lessen the financial burden on the county, said Ted Meyerson, chairman of the task force charged with reviewing the senior tax credit.
Meyerson presented oral recommendations to the County Council on Monday. The task force met to examine the income cap and the 25-percent tax break and will review more long-term issues in the coming months.
Among the recommendations were:
» Make the income cap 400 percent of the federal poverty level for a two-person household, rather than the $75,000 limit, so those making about $54,000 or less would qualify for the cut;
» Require the county to determine what counts as an asset, such as land or retirement funds, and set limits on assets;
» Apply the 25 percent tax break after all other credits are accounted for;
» Educate the public on the available tax credits since most seniors surveyed were not familiar with this law or other tax credits.
Council Member Calvin Ball, D-District 2, said the suggestions were reminiscent of some of his concerns when he voted for the bill last fall.
He said he favors tweaking the current bill rather than starting over, which Meyerson suggested.
“At this point, we can apply the recommendations without necessarily repealing the current law,” he said.
In the coming months, the task force will examine issues such as senior tax credit bills on the state level and data collected by those who take advantage of this law, Meyerson said.
