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Friday, July 25, 2014
Tax breaks: Are they fair?Posted Thursday, December 27, 2007, at 9:06 AM
Those of you eligible to vote who bothered to do so last year may remember a constitutional amendment on the ballot authorizing a property tax freeze for elderly homeowners.
"Just seven of Tennessee's 95 counties have enacted a property tax freeze for elderly homeowners that was authorized by voters last year," the Associated Press reports.
"If approved by local officials, the tax freeze applies to elderly homeowners who earn less than the average income of all residents between the ages of 65 and 74 in their county. If they qualify, they will be exempt from future tax increases on their property."
Should the elderly get a tax break here? I think they deserve some help after all they've contributed in many ways over the years. I can see, though, how others could disagree.
On a related note, incoming new industries and businesses have received tax breaks for years -- which continue for years after their arrival. I guess that helps attract them, but is that totally fair to existing residents, businesses and industries? It's been argued that those firms which get tax breaks attract new residents and businesses which do add to the tax coffers.
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David Melson is a copy editor and staff writer for the Times-Gazette.
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