Freezing property taxes is the right step to take
When you spend a sizable part of your life working toward something as significant as owning your own home, the last thing you should worry about is rising property taxes potentially turning your home into a burden one day.
Rep. Jamie Kiel, R-Russellville, has pre-filed a bill aimed at creating financial relief for homeowners aged 65 and older, especially in an inflating economy with stagnant wages.
Aptly labeled as House Bill 65, the amendment would freeze the assessed value of single family homes, which would in turn freeze rising property taxes.
In 2024, voters in Lauderdale County overwhelmingly approved a resolution exempting those 65 and older from an increase in property taxes if the value of their home also increases.
Kiel, who has also proposed an additional bill aimed at the same problem for Colbert County, said he was approached by a senior citizen who was concerned how they would be able to afford staying in their home if property taxes continued to rise.
While the Alabama Legislature recently capped the amount in which the state can increase the yearly property tax, counties and municipalities are still able to do so, which prompted the need for a bill.
“We passed legislation for all Alabamians that only allows property tax to rise 7% per year as opposed to the high post Covid increases we all experienced,” Kiel told the Franklin County Times. “This will further cap the rate permanently for seniors so they can better budget going further.”
According to taxfoundation. org, Alabama has the third-lowest property tax rates in the county at 0.36% — just in front of Hawaii.
In Franklin County, the rate checks in at 0.33%, which equates to an average of $432 paid by Franklin County property owners.
On the surface, $432 per year may not seem like an insurmountable sum of money to pay.
However, as costs for groceries, utilities and other essentials continue to rise, property taxes could be the make or break in a person’s budget. Especially for seniors who may solely rely on a social security check or have other limited income to make ends meet.
Kudos to Rep. Kiel and other legislators who have backed similar bills across the state. Here’s hoping Franklin County will soon join others in ensuring those who have worked so hard to acquire and maintain their homes can continue to do so at an affordable rate.
