For Immediate Release: Wednesday, May 18, 2016
The Montgomery County Council today unanimously approved Expedited Bill 10-16 that will make it easier for seniors to stay in their homes by deferring property tax increases at zero cost.
Montgomery Council unanimously approves bill
that will help seniors stay in their homes
Legislation will enable many seniors 65 and older
to defer increases on property taxes
ROCKVILLE, Md. May 18, 2016—The Montgomery County Council today unanimously approved Expedited Bill 10-16 that will make it easier for seniors to stay in their homes by deferring property tax increases at zero cost.
The lead sponsors of the bill were Council Vice President Roger Berliner and Councilmembers Sidney Katz and Hans Riemer. The legislation was co-sponsored by Council President Nancy Floreen and Councilmembers Marc Elrich, Tom Hucker, Nancy Navarro and Craig Rice.
Expedited Bill 10-16 will enable seniors of at least 65 years of age and individual or combined gross incomes of $80,000 or less to defer increases on property taxes on their principal residence for up to as long as they sell their homes. Interest on the deferred taxes would accrue at a 0 percent interest rate. Under the income threshold of $80,000—which is the senior median income in the County—the eligibility criteria would capture roughly half of senior households in Montgomery County.
The legislation is modelled after similar programs in Howard County; Washington, D.C.; Boston; Minneapolis; Boulder County, CO; and King County, WA.
“As our Council contemplates the County Executive’s proposal to raise property taxes, providing relief to our seniors who are living on fixed incomes is particularly important and timely,” said Council Vice President Berliner. “This legislation protects seniors from an increase in property taxes at zero cost and can provide peace of mind for those seniors worried about having to sell their home to make ends meet. Our County is committed to making Montgomery County a community for a lifetime, and the passage of this legislation is one more concrete measure to achieve that goal.”
Councilmember Katz said seniors could find great relief from the legislation.
“Many seniors can be disproportionately affected by the current tax structure,” said Councilmember Katz. “This legislation is one way to address this and help our seniors to be able to continue to enjoy their home.”
Councilmember Riemer said that with an increasing number of seniors choosing to retire in their home communities rather than move to other areas, the legislation is an important way to make that option an easier choice.
"Because seniors are an important part of a thriving and diverse community, we should strive to find ways to help seniors age in place,” said Councilmember Riemer. “I am very happy we passed this legislation today, just as I was pleased to work with my colleagues to increase the Senior Property Tax Credit in 2012."
More information about Bill 10-16 is available at http://tinyurl.com/zfz4jg9 .
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Release ID: 16-161