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Do you mean based on "type of income", or amount? I don't see how the source of income makes a difference. Interest income is still taxed, as is pension/IRA income and often to some extent (especially if a senior has those other sources) so can part of Social Security payments.
Because it's a "School TAx Relief" program, I think the idea is that seniors who do not or no longer have children that are directly benefitting from the schools that the tax assessment funds, and are on a limited or fixed income which for many people IS nothing more than Social Security, deserve a break from the SCHOOL tax burden which is all that STAR affects.
Personally I think the minimum age qualification for Enhanced STAR should be lowered from 62 to 60. Even at 60, the odds are their kids have been out of the public school system for anywhere from 5 to 15 years....
Sorry, school taxes are a very sore subject for me, at least the way the funding system currently exists.
I'm looking at the type of income. I know seniors who got into low income senior housing because on paper they had small "income", yet they sold their house for 500K to move into the senior housing. If you had 500K in equity in a house, I don't think you are low income IMHO.
As far as fixed incomes, seniors get a COLA on SS each year (and yes an increase in Medicare tax as well) which often times are higher than the increases in the private sector.
But what is most important is not fighting over who deserves more tax breaks, but rather, who to elect who will not bow down to the various civil service unions and continue to provide them with overly generous and unsustainable benefits on the backs of the taxpayers.
I'm looking at the type of income. I know seniors who got into low income senior housing because on paper they had small "income", yet they sold their house for 500K to move into the senior housing. If you had 500K in equity in a house, I don't think you are low income IMHO.
As far as fixed incomes, seniors get a COLA on SS each year (and yes an increase in Medicare tax as well) which often times are higher than the increases in the private sector.
But what is most important is not fighting over who deserves more tax breaks, but rather, who to elect who will not bow down to the various civil service unions and continue to provide them with overly generous and unsustainable benefits on the backs of the taxpayers.
SDs dictate asset value on LI.
Wouldnt a senior on a reverse mortgage or buyout also benefit from good schools?
Im not sure where shool age children fit into this equation.
Stanley Cup,
I agree that seniors living on just SS definitely need help on their school taxes, if not ALL the taxes. But to be fair, shouldn't all people making below that certain amount of money be able to get that benefit?
I feel that if you are truly looking at the financial part of the equation in terms of who can't afford to pay full value of their school taxes, age should have nothing to do with it.
I'm looking at the type of income. I know seniors who got into low income senior housing because on paper they had small "income", yet they sold their house for 500K to move into the senior housing. If you had 500K in equity in a house, I don't think you are low income IMHO.
As far as fixed incomes, seniors get a COLA on SS each year (and yes an increase in Medicare tax as well) which often times are higher than the increases in the private sector.
But what is most important is not fighting over who deserves more tax breaks, but rather, who to elect who will not bow down to the various civil service unions and continue to provide them with overly generous and unsustainable benefits on the backs of the taxpayers.
SDs dictate asset value on LI.
Wouldnt a senior on a reverse mortgage or buyout also benefit from good schools?
Im not sure where shool age children fit into this equation.
Long Islanders are not the only ones suffering because of taxes. In the state of Florida your taxes are 2% of the purchase price of your home. i bought my home 13 years ago at 112,000. I am paying 2,800. in taxes. I could sell my home for 375,000. That poor person will be paying 7,500. in taxes. I can't afford to sell my house and buy another one in my own neighborhood due to that reason. I am actually looking into moving back to NY!!!
Long Islanders are not the only ones suffering because of taxes. In the state of Florida your taxes are 2% of the purchase price of your home. i bought my home 13 years ago at 112,000. I am paying 2,800. in taxes. I could sell my home for 375,000. That poor person will be paying 7,500. in taxes. I can't afford to sell my house and buy another one in my own neighborhood due to that reason. I am actually looking into moving back to NY!!!
See, I find that to be incredibly unfair. How what you paid for a house 20 years ago has anything to do with the cost of running a municipality today is beyond me. The "new" folks are flipping the bill for the people next door just becuse they weren't old enough to buy 20 years ago. Crazy.
I don't like the way taxes are created anyway. If you are on a 1/2 acre, then you should pay for taking up that much space in your town. Why if I put in central a/c and a pool to raise my property value cause me to pay more taxes. Sure, some things may have more of an effect on the infrastructure I suppose, but c'mon.
See, I find that to be incredibly unfair. How what you paid for a house 20 years ago has anything to do with the cost of running a municipality today is beyond me. The "new" folks are flipping the bill for the people next door just becuse they weren't old enough to buy 20 years ago. Crazy.
I don't like the way taxes are created anyway. If you are on a 1/2 acre, then you should pay for taking up that much space in your town. Why if I put in central a/c and a pool to raise my property value cause me to pay more taxes. Sure, some things may have more of an effect on the infrastructure I suppose, but c'mon.
I think tax based on sq ft and acreage is the ONLY way to go.
30% Premiums for waterfronts
30% Premiums for an accessory apartment.
Everything else is secret decoder ring crap and should be abolished asap.
How about buying a house and later they say 'they made a mistake' and have to raise the taxes on your 'summer porch' because the original owner never reported it? How about buying a home and being lied to when you ask where the property line ends? Or who can build behind you?
I hate to be mean but I hope the guy who sold us our home along with the crooked real estate liar get what they deserve someday.
Fortunately we were able to sell that house but the scars linger...
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Why not just straight total income level?
