AG 1998 04 20 - Laserfiche WebLink

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Resolution No. 1998- RESOLUTION REQUESTING CONSIDERATION OF A PROPERTY TAX DISCOUNT FOR THE ELDERLY WHEREAS, Elderly homeowners throughout North Carolina are finding it harder and harder to pay their property taxes because of rising market values; and WltEREAS, throughout the State some home values have jumped as much as 50 percent since 1991 and while this is considered a good return on an investment it can create a hardship for the elderly who could be paying as much in taxes as it originally cost to purchase their home; and WHEREAS, North Carolina is not among the 20 states that allow elderly homeowners to defer tax payments until they sell their homes or die allowing back taxes to be paid for home-sale profits or estates; and WHEREAS, Only seniors with an income of $15,000 or less qualify for North Carolina's homestead program which subtracts $20,000 off the home's tax value; and WItEREAS, this Board feels that if this problem is not addressed, it could force the elderly out of their homes and into nursing and retirement facilities. NOW, THREFORE, BE IT RESOLVED by the Board of Commissioners for the County of Cabarrus as follows: That this Board requests the North Carolina Legislature to address this problem and consider statewide implementation ora property tax discount or deferment for senior citizens. That this Board requests the North Carolina Association of County Commissioners to work with Cabarms and the other 99 Counties and the Legislature to formulate an acceptable solution to this growing problem. 3. That a copy of this resolution be mailed to the local Legislative Delegation. 4. That this Resolution be effective upon its adoption. Adopted this 20th day of April, 1998. ATTEST: Frankie F. Bonds, Clerk to the Board Sue Casper, Chair