FCERA learns about property tax for seniors
The Franklin County Education Retirees Association held its February meeting at the beautiful Weatherford Centre in Red Bay. Community Spirit Bank served a delicious luncheon.
Gene Ellison presented an interesting program entitled “Property Tax Info for Seniors.” He provided handouts which dealt with property classification, assessment rates, homestead exemptions and Franklin County millage rates. Ellison stressed that a homestead is not automatic. It must be requested and signed for.
A Regular Homestead is available to all homeowners for a single-family resident.
Homestead exemption 2 (Act 91) is for persons over age 65 with adjusted gross income less than $12,000 on their state tax return. Homestead exemption 3 (Act 48) for persons over age 65, if their taxable income is less than $12,000 on their last federal income tax return, line 43, also for permanently or totally disabled individuals. In Franklin County, you still pay $1.35 per parcel of property. And Homestead exemption 4 (Act 92) for persons over 65 regardless of income. All of these need to be applied for prior to October 1.
President Sandy Gibson gave a brief update on the bills introduced in the state legislature that affect education. HB152 proposes regulating, taxing and licensing specific gaming activities in the state, overseen by a gaming commission established by the legislature. This bill has the potential to significantly impact education funding and opportunities statewide. The bill introduces a 24% state tax on casino-style gaming revenues with the funds designated for education funding.
This bill also outlines the creation of the Lottery for Education Fund, which focuses on assisting high school students with a GPA of 2.5 or higher in covering dual enrollment costs at public two-year or four-year universities. While the bill passed the House, it still faces challenges in the Senate. If you want a retiree Cost of Living Adjustment (COLA), the time is now to contact your senator and ask them to vote yes on the gaming/lottery bill.
SB61 sponsored by Sen. Arthur Orr and known as the CHOOSE Act was discussed in the Senate Finance and Taxation Education Committee. During the public hearing at the meeting, AEA and other education groups expressed concerns about the bill and have been actively working with the governor’s office to include safeguards for our public schools.
Members were encouraged to make plans to attend the Alabama Education Retirees Association annual meeting May 7 at the Renaissance Hotel in Montgomery. The next meeting of the FCERA will be held March 20 at the Russellville First Methodist Church. Plan to come and enjoy a potluck luncheon.
