Title
A RESOLUTION CONCERNING THE REVISED ELDERLY PROPERTY TAX CREDIT for the purpose of delaying the effective date of CB-007-2024 - The Revised Elderly Property Tax Credit, and to provide the necessary time to revise CB-007-2024 and enact legislation that clarifies the senior citizens eligibility for a senior tax credit.
Background
Council and the Administration proposed this joint Resolution to refine and improve the goals outlined in the Senior Property Tax Credit Bill, CB-007-2024 (DR2), which was passed by Council in November 2024.
While CB-007-2024 (DR2) reflects important intentions, we collectively recognize the need for revisions to ensure its clarity, fiscal responsibility, and ease of implementation. To ensure that this legislation best meets the needs of our seniors, we are working together to draft a new Bill that prioritizes: (1) ensuring seniors understand how to access the credit and meet eligibility requirements, (2) streamlining the process to make it easier for applicants and officials, (3) balancing the goal of supporting seniors with the financial sustainability of the program, and (4) equitable access for our senior residents who need assistance the most.