Letters to the Editor

Your views in 250 words or less

TAXES: Ease burden on underwater homeowners

Letter by Saundra J. Raynor, Lakewood on Sep. 22, 2011 at 4:21 pm | 7 Comments »
September 23, 2011 11:47 am

Older or disabled homeowners who would otherwise qualify for an exemption on property taxes are discovering that as their county assessor lowers the value on their homes, resulting in less equity (if any), they are less likely to qualify for exemptions.

However, since many of us are underwater ─ owing more on our homes than the assessor’s valuation (not an outside appraiser’s valuation, by the way) ─ we no longer have sufficient equity to qualify for an exemption or deferral on property taxes. A homeowner in this situation is exempt from property taxes only if his or her income is $35,000 or less annually. We in the middle are getting squeezed even more.

It is time for our legislators to amend the property tax law on exemptions to ease the burden on lower-income, older homeowners.

The News Tribune now uses Facebook commenting on selected blogs. See editor's column for more details. Commenters are expected to abide by terms of service for Facebook as well as commenting rules for thenewstribune.com. Report violators to webmaster@thenewstribune.com.