The St. Joseph County Council this week gave final approval to a new property tax deferral program for middle-aged and senior homeowners.
The council Tuesday night approved the ordinance on a partyline vote, with the five Republican members voting yes. They called it the “Help Seniors Stay in Their Homes” bill. It will apply to assessments this year for tax bills that will be payable next year.
It will let homeowners age 55 and older, who’ve owned their primary residence for at least five years, defer up to $500 of their annual property tax bill, up to $10,000 total, until their home is sold. The home must be paid off, meaning they don’t have a mortgage company paying the taxes from escrow.
Democratic Council President Bryan Tanner has said the program isn’t worth the trouble because administering it would cost almost as much as seniors will save. Critics also said it would create debt for heirs.
But bill sponsor Amy Drake disagrees.
“You know at this point in people’s lives, they just want to have some security so their homes don’t end up in tax sale. If we can allow seniors who really need this extra help to stay in their houses a few more years before they pass on, I don’t think they’re worried about going into debt. I don’t think they’re worried about leaving this money for their families. I think they just need to feel secure for the final years of their life.”
