Seniors exempt on property tax
By Staff
Melissa Dozier-Cason FCT Staff Writer
Senior citizens statewide may be eligible for an exemption on their property taxes, effective October 2, 2006.
Franklin County mailed out 2,546 tax exemption cards to those who signed up to receive them once the new laws went into affect. Those who are 65 or older who did not sign up to receive the cards will not get one, and should contact the revenue commissions office in Russellville or Red Bay as soon as possible, Joyce Hayes, Chief Clerk, Franklin County Revenue Commission, said.
Although this is an exemption, Franklin County opted to require those affected by this law change to pay $1.25 per parcel, Hayes said.
"Even if they are exempt, they [Franklin County residents over 65] still have to pay the $1.35," Hayes said.
There are several types of Homestead Exemptions available for senior citizens. Homestead Exemption 2 is for those who are 65 or older and gross less than $12,000 each year. This exemption is for state and county taxes up to $5,000 in assessed value. Residents who are permanently and totally disabled or blind are entitled to this exemption, as well.
Homestead Exemption 3 is for residents 65 or older, or for those disabled. This exemption is for all property taxes if the net taxable income is less than $7,500 on their last federal tax return.
Homestead Exemption 4 is for residents 65 or older regardless of income. This exemption is for the total assessed value of the state tax and up to $2,000 of assessed value of county.
Those who are disabled must be able to furnish a statement from two different sources to prove the disability. Letter from Physician, Veteran's Administration and the Social Security Administration are acceptable.
Exemptions should be applied for before December 31 of each year based upon. Property owners can only use a Homestead exemption for property that they occupy.
In October of each year, a reclaim form will be mailed to each property owner who has been eligible in the past. Residents who become eligible for these exemptions should contact the revenue commission in Russellville or Red Bay for information on claiming this exemption.
