Wednesday, November 22, 2006

60k and 50k Senior income limit proposed

Bills are starting to be filed for the 105th session of the Tennessee General Assembly starting January 9, 2007.

Two bills have been proposed to implement the Senior Property Tax Relief just passed as a Constitutional Amendment. The Norris Bill proposes a $50,000 income limit and the Maddox/Jackson Bill proposes a $60,000 income limit. Anyone over 65 whose income from all sources is above these limits would not qualify for the property tax freeze when and if their local city/county implemented the freeze.