Atlanta is trendy! This state has launched an incredible program to protect its most vulnerable part of the population (older homeowners) from rising property taxes, so if you own a home in this state and are over 60, this information might be very relevant to you!
It is a tax exemption that can freeze current rates for 20 years for low-income seniors, but there is one key detail: the deadline is May 31, 2025. That means there are only 5 days left to apply… Hurry up!!
The program, which is also funded with private money, aims to stop long-time residents from being pushed out from their homes, especially those with fewer resources, so they don’t have to leave their homes due to tax hikes. Do you want to know more about what we are talking about? Pay attention!
How do these taxes work?
In the United States, there are property taxes, and they are one of the main sources of local revenue. They apply to homeowners, second homes, and even rental properties, and are calculated based on the market value of the property.
In some states, boats or cars are also taxed, did you know that? Even it is considered a regressive system, it is essential to fund public services like schools, road maintenance, and other community services, even if we don’t like paying taxes… they are necessary as you can see.
Atlanta steps up
We are living a situation where the market pressure and rising living costs don’t stop. Atlanta has launched this program that provides tax relief aimed at older adults who could be forced to leave their homes due to tax burdens. The program was promoted by Invest Atlanta together with the city council and funded through the Centennial Yards Housing Trust Fund.
This fund will allocate 10 million dollars to cover tax increases above the owner’s current base for the next 20 years! And the best part is that this measure will allow recipients to keep their homes without being affected by those increases.
Who can apply?
To qualify for this program, you must meet the following criteria:
- Be 60 or older.
- Have lived in Atlanta since at least 2015
- Be a homeowner with an active homestead exemption.
- Meet income limits (of course).
- Have no outstanding mortgages or liens on the property.
Reaching all neighbours
The program was presented at an urgent press conference by Atlanta City Council District 11 candidate Wayne Martin, who stressed the urgency of applying:
“With only a few days left, I want every senior homeowner in Atlanta to hear this loud and clear: there is help available, but they must act now”.
Why is this measure important?
This program is not only economic relief, it also protects the identity of neighbourhoods. In a world where everything seems more and more expensive, apartments, daily life, everything… It allows people (seniors) to stay in their homes, keeps the social fabric from breaking, and preserves the familiar faces.
Everything seems to revolve around money and speculation, and this initiative shows that there is another way to do things. And it works with private funds, not taxes.
Deadline is about to close
Hurry up, time is over!! If you or someone you know meets the requirements, there is no more time to waste. The deadline is May 31, and it could be the difference between keeping your home or being forced to move. Atlanta has shown that there are ways to act quickly, but you need to move fast! Get informed, apply, and above all, tell your neighbours as son as possible! Don’t miss out this opportunity!