RUTHERFORD COUNTY, TN - Rutherford County Assessor of Property Rob Mitchell recently talked to WGNS about a new idea that could benefit retired senior citizens in a major way, an idea that was further fueled by comments from the Speaker of the House...
In describing his thoughts on the idea, Mitchell said... The local property assessor calls his proposal the Tennessee Golden Homeowners Tax Relief Program. Under his idea, the state’s annual cash surplus would result in qualified seniors receiving an annual reimbursement check for their property taxes, instead of seniors writing an annual check to cover those taxes themselves...
Mitchell believes homeowners who are 65 years old and older could be fully reimbursed for their property taxes each year on their primary residence. On average, Mitchell said senior homeowners would likely receive an annual check ranging from $3,000 to $5,000, fully covering the cost of their property taxes.
Supporters say the proposal would help seniors remain in their homes as property values and tax bills continue to rise. More importantly, Mitchell believes the state can easily afford the program. He argues that if Tennessee can provide large tax breaks to corporations, it can also protect seniors who have paid taxes for decades and helped build local communities.
Many seniors live on fixed incomes and are being pushed out of homes they have owned for generations due to rising property taxes. The proposed program would cost an estimated $750 million to $900 million annually, or roughly 3% of the state budget, and could be funded using Tennessee’s recurring surplus without raising taxes or cutting services.
Supporters say the program would prevent tax foreclosures, strengthen local economies by keeping seniors’ money in their communities, and reward long-time Tennessee residents for their loyalty and contributions.
Residents who support the proposal are encouraged to sign a petition asking state lawmakers to take action by allocating a portion of Tennessee’s surplus to help seniors in local communities.
In summary, Tennessee has consistently ended recent years with large budget surpluses—often totaling billions of dollars—money that Mitchell says could make a meaningful difference in the lives of seniors who own their homes.
