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Dec 4, 2009 8:51 PM by Matt Stafford

Seniors losing property tax exemption

Seniors across the state are getting notification that their property tax exemption has been suspended through 2011.

Since 2002, seniors have been able to receive a property tax exemption of up to 50 percent of up to the first $200,000 of their home's value.

In April, the General Assembly passed the Senate bill to suspend the exemption.

19,000 senior citizens in El Paso County have applied for the tax break.

"I don't know where all the money goes but I know we've have to tighten our belt in El Paso County," says Jim Bensberg, Chairmen of the El Paso County Commissioners. "We've not had to ask for a tax increase, we've not had to raise fees and we haven't put a ballot measure forward to raise your property taxes."

This legislation is expected to help the budget with more than $91 million that won't have to be appropriated.

 

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