You’ve probably heard about states throughout the U.S. getting rid of property taxes (or greatly decreasing them) for seniors. However, that doesn’t completely eliminate their tax liability. Many places also have county, and even city/township taxes you’re on the hook for. Now, these county tax notices are receiving more scrutiny from retiree advocacy groups, financial counselors, and senior organizations across the country. Rising home values, increasing local government costs, and property tax assessments that often outpace fixed-income growth have created new challenges for older homeowners. What once seemed like a predictable expense has become a growing concern for retirees trying to stretch Social Security benefits and retirement savings. Here’s what is happening to make things a bit easier for seniors.
