Low income senior homeowners are in store for an added property tax break as Broward Commissioners approve up to an additional $25,000 homestead exemption for homeowners sixty-five years of age or older with a household income $28,482 a year or less. The increase boosts the maximum senior low income homestead exemption from $25,000 to $50,000.
Broward Commissioner Dale V.C. Holness brought the item to the Commission for approval. “I am bringing this item forward for the seniors who are on a fixed income. I want to ensure we are helping those who have lived a long time to be able to stay in their homes and not be burdened by taxes,” said Commissioner Holness.
Approximately 10,000 low income senior property owners will qualify for the extra property tax reduction that carries a savings of up to $143. In 1999, Broward County enacted a $25,000 property tax exemption for low income seniors, currently more than 20,000 properties in Broward County are receiving this exemption.