Explain and Compare
I have been following your articles on the proposed senior tax freeze, which has now been approved by the boards of Finance and Selectman. This ordinance is scheduled to be voted upon at a Town Meeting on Tuesday, Jan. 26.
The highest qualifying income level for participation in this program is $75,762. A qualifying senior would have his taxes frozen, so that going forward he would pay taxes at his 2016 tax level, year after year, but with no additional increase.
I look forward to learning more about this freeze and discovering how it compares to the two currently existing tax relief programs for seniors. Under tax abatement, the maximum qualifying income is $63,660. Abatement allows a portion of taxes, up to $1,269, to be forgiven. The same qualifying maximum of $63,660 applies to tax deferral, under which the first $8,000 of taxes is deferred (i.e., the senior pays zero taxes unless the bill is more than $8,000, and then he pays the amount over and above $8,000).
The proposed ordinance will be funded at one percent of the current combined town and education budgets. It could raise most resident’ property taxes by one percent because of the revenue lost with the freeze. I expect the Town Meeting to explain and compare all three senior tax relief programs in terms of (a) helping seniors to remain in Madison, and (b) the cost to the town of each program.
I strongly recommend that the vote on this proposal be cast at a town-wide referendum rather than at a Town Meeting.
Joan McPherson
Madison