Seniors: Tax plan not much help
Legislation would delay payment of property taxes
BY ERIC BRADLEY | COMMUNITY PRESS STAFF WRITER
COLUMBUS -- Shirley Chandler and Pat Clouse, two Mason area seniors looking for tax relief, will have to look someplace other than a recently proposed bill in the state Senate.
Senate Bill 198 is designed to help the neediest residents by allowing the seniors and the disabled to defer their property taxes.
The legislation, sponsored by state Sen. Robert Schuler (R-7th District), would allow property taxes to be deferred until the property is sold.
Schuler said the bill was designed to help those who need it most.
"This isn't a great financial planning tool. What it is to help people who need help. They could go out and get a reverse mortgage, but they'll pay a lot more."
Under the bill, the qualified applicant would submit an application form to the county auditor and would have to re-apply every year.
When the deferral is terminated the taxes deferred would have interest added. Schuler said that rate is the lowest interest rate possible.
In addition, an administrative charge of 2 percent of the amount of taxes deferred is included to cover expenses of county auditors and treasurers working on the deferrals.
Taxing entities don't have to worry about their cash flow -- Schuler said the bill would be financed to allow the state to pay schools and others the taxes deferred by residents.
Chandler and Clouse agreed that the bill could be helpful to people who need to stay in their home, but said it would not help them personally.
They'll just pay their taxes as they have been without the interest and fee.
"If there's no discount or anything along the road, it doesn't sound practical," said Chandler, who lives in Mason. "You either pay them now or you pay them later."
Clouse, a Deerfield Township resident who is taxed for Mason Schools, agreed.
"Deferring things just mean you have to pay them later. I think it's better if you pay as you go."
Source: Money Matters (Scott Hanson)
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