From the Ingles Studio this is your news minute on the Cherokee Tribune Ledger Podcast presented by Drake Realty. Today is Friday, January 26th, and I'm Keith Ippolito.
Ridley Introduces Bill to Expand Cherokee's Senior School Tax Homestead Exemption
In a recent legislative move, State Rep. Jordan Ridley, R-Woodstock, introduced House Bill 1025, aimed at broadening the senior school property tax exemption in Cherokee County.
The bill stipulates that seniors aged 62 and above, who have resided in the county for a minimum of five years and earn an annual income not exceeding $16,000, would be exempt from all Cherokee County School District ad valorem taxes for educational purposes. This exemption applies to the full value of their homestead.
If the bill receives approval and is signed into law, it would generate a local ballot referendum. Cherokee County voters would then decide on the proposed expansion of the senior school tax break.
State Rep. Ridley expressed his support for the bill, stating, "Our senior citizens deserve a break from ad valorem taxes. With record-high inflation increasing the financial burden on residents across the state, it's my hope that this legislation will bring vital relief to our taxpayers."
Currently, seniors aged 62 and above in Cherokee County are eligible for a school property tax exemption, but this is capped at a certain amount of their homestead's value. This cap is adjusted annually based on the Social Security Index.
In 2023, properties in Cherokee County witnessed an average increase of 15.01% in their assessments compared to the previous year. Ridley's bill aims to alleviate some of the financial pressure caused by these increases.
For more news about our community, visit tribuneledgernews.com. For the Tribune Ledger Podcast, I'm Keith Ippolito.
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