SB 25: Property Tax Relief for Seniors
This bill passed the House 66-1 and passed the Senate 28-0.
Could you imagine losing the home you’ve raised your family in and worked hard to maintain at the age of 75? Unfortunately, in Utah, this is a real possibility for many of the state’s elderly.
With home values on the rise across the state, property taxes are rising as well. In fact, since 2019, residents in some cities, such as Ogden and Brigham City, saw property tax increases of 25 to 70 percent.
This increase in property tax is placing a huge burden on the elderly. With such egregious property taxes, this group is being left with little money to attend to other necessities, like healthcare and transportation.
Utah’s seniors need a reliable source of property tax relief. A statewide property tax deferment program may provide a solution.
Senator Lincoln Fillmore is aiming to create such a program for seniors with Senate Bill 25. This bill would allow homeowners, over the age of 75, with an income of less than $65,000 a year, to apply to forgo the payment of property tax until the sale of their home or a transfer of ownership takes place.
If we do not provide property tax relief to this population, elderly across the state may have to make increasingly impossible choices with how to spend their hard-earned money, like whether to spend money on necessary medical treatments or property taxes.