Tax exemptions for needy seniors granted for pricey homes

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Source:   —  April 10, 2016, at 6:38 PM

And many lower-income homeowners sixty-one and older haven't tried to get advantage of the property-tax relief program. The Seattle Times reports (http://is.

Tax exemptions for needy seniors granted for pricey homes

The Seattle Times has found some property tax breaks designed for needy seniors have been granted to some beautiful expensive King County homes.

And many lower-income homeowners sixty-one and older haven't tried to get advantage of the property-tax relief program.

The Seattle Times reports (http://is. gd/RUFGQS ) homeowners sixty-one and older with a total household income of $40.000 or less, who are retired due to a disability or are a veteran with a service-connected disability may qualify for the program.

Census data indicate near to 40.000 homeowners in King County would meet the requirement for the senior exemption, but not quite 15.000 are enrolled.

Another one hundred eighteen King County homeowners currently receiving the senior exemption have houses that were assessed at more than $1 million in 2015.

To be eligible for the senior exemption, income alone is taken into account — not assets such as home equity.

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