Increase in the homestead exemption will only help the rich who own $100,000-plus homes. Those who rent will lose. The retirees on low fixed incomes, most of whom live in retirement mobile home parks on rented lots, will lose greatly. They will end up paying double property taxes on their addition rooms, their porches and sheds even though they do not own the land.
Taxes are needed for police, firemen and schools and other services. If the rich are let off the hook by this homestead exemtion, it's obvious that taxes for the poor will increase in rates, thus the poor will end up supporting the rich. Example: $200 property tax to a pension receiver on $19,000 is a far worse hardship than $2,000 house tax on a wealthy salary of $70,000 per year. The result would be, the retiree will have to reduce his purchases of TV dinners and go without food so that the tax exempt wealthy person can splurge in more expensive restaurants.
The only fair solution to property taxes would be to do away with the homestead exemption entirely. Do the politicians know that if the voting public realized that the homestead exemption is bad, and that there are more home owners, renters, etc., not eligible than are eligible, that they could get more votes on the platform advocating abolishing homestead exemption and lowering the tax rate.
Colin McClellan
Lake Placid
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