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Sen. Mike Wabamow urges higher thresholds in bill to reduce property taxes for seniors
Summary
Senate Bill 2301 would raise income and taxable-value thresholds tied to the federal poverty level so more homeowners aged 65+ would qualify for a property-tax reduction; committee heard sponsor, fiscal clarifications and neutral testimony and took no action.
Senator Mike Wabamow introduced Senate Bill 2301 to the Senate Finance and Taxation Committee, saying the measure raises income and taxable-value thresholds so more homeowners 65 and older would avoid property tax burdens. “People who are over 65 shouldn't have to pay property tax. They have contributed enough and they should be able to really own their own homes,” Wabamow told the committee.
The bill ties eligibility to a percentage of the federal poverty level and raises the taxable-value cap used to determine a reduction. Wabamow said he increased the home-value threshold to protect owners of modest homes who face higher…
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