Property tax relief bill passes state senate
Savino says average senior citizen could save $1,750
Homeowners would see a big savings the next time a property tax bill arrives in the mailbox if legislation passed by state Senate eventually becomes law.
State Sen. Diane Savino is the sponsor of a bill approved last week by the Senate that would raise the income level a senior citizen homeowner could have and still be eligible for the state’s Senior Citizen Homeowners’ Exemption (SCHE) program. SCHE provides property tax exemptions to older residents living on fixed incomes.
The legislation would raise the income cap for SCHE to $50,000 a year for a full 50 percent property tax exemption and to $58,400 a year for a partial exemption. The eligibility levels have not been raised since 2006, according to Savino.