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Seniors get tax break

TICONDEROGA Ticonderoga residents age 65 or older who have an earned income of $30,400 or less may qualify for a senior citizen exemption to reduce town taxes. To get the tax break, though, residents must submit an application to town of Ticonderoga assessors office in the Community Building by March 1. The Ticonderoga town board voted Feb. 8 to expand the income limits for the senior citizen exemption by adding a sliding scale for incomes between $22,000 and $30,400. Senior citizens with incomes of $22,000 or less qualify for a 50 percent exemption off the assessed valuation of their property. This has not changed. What is new is that the addition of the sliding scale enables senior citizens with incomes between $22,000 and $30,400. Seniors with incomes between See TI, page 11 $22,001-$23,000 qualify for a 45 percent reduction in assessment; $23,001-$24,000 get 40 percent; $24,001-$25,000 get 35 percent; $25,001-$25,900 get 30 percent; $25,901-$26,800 get 25 percent; $26,801-$27,700 get 20 percent; $27,701-$28,600 get 15 percent; $28,601-$29,500 get 10 percent; and $29,501-$30,400 get 5 percent. People who have received a senior citizen exemption in previous years must verify their income by completing and returning the verification form to the town assessor. The form was mailed to all senior citizens who already had the exemption in early January. In addition, the income verification may be done by looking at your income tax return, but only if a person has elected this option. Residents who have not previously received the senior exemption must submit their application by March 1. For more information call the Ti assessors office at 585-5285.

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