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A revenue neutral way of increasing property tax relief to seniors who need it most would be to put existing tax relief on a sliding scale based on age. Currently, when you go from age 64 to age 65 you get a huge windfall in the form of a 50% reduction in taxes. Instead, how about something like a 25% relief from age 65-70, 50% from 70-75, 75% from 75-80 and 90% relief above age 80. You could figure out the actual age bands to use based on actuarial tables so that the change was revenue neutral.

by Falls Church on Feb 14, 2013 1:43 pm • linkreport

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