NORWICH – Senior property tax exemption levels in the City of Norwich hadn’t been increased since 1994, and every year, as Social Security would increase by a small percentage, a few more seniors would find themselves ineligible for the exemption. But last week, the city revised its tax exemption levels.
“The city increased their levels to be equal to what the county is at,” said City Assessor Stephen Harris. The city operates its senior property tax exemption system on a sliding scale. Prior to last week’s updates, seniors who made less than $14,900 a year would be eligible for a property tax exemption of 20 to 50 percent. With the revisions, seniors who make less than $16,700 can qualify for an exemption of 20 to 50 percent.
“The exemption levels county wide are pretty low,” Harris said. He explained that if the exemption levels are not revised, a small increase in Social Security could have a negative effect. “It’s a double-edged sword,” Harris said. “They get an increase, it now costs more for their medical coverage, and they no longer qualify for the property tax exemption,” Harris explained. He said if the levels aren’t regularly revised, in some cases, the Social Security increase can actually cost seniors more.
“We really need to keep our levels updated. Think of the difference in pay since 1994,” Mayor Joseph Maiurano said.
Seniors eligible for the exemption must fill out forms in order to qualify. The forms must be filled out and submitted to Harris by March 1.
“We really need to get into the system of looking at this every couple years,” Harris said of the senior exemption levels. Maiurano said the city is planning on looking at the levels regularly. While the levels will be looked at, Harris explained the state does have a cap on the maximum income a senior can have while still qualifying for the program.
Although the number of seniors in Chenango County is on the rise, Harris said the number of people who qualify for the properly tax exemption has remained steady.