The Howard County Council somewhat reluctantly approved major changes to the county?s senior tax credit, after months of debate over what to do with a law yet to go into effect.
“It?s a piece of legislation I wish I didn?t have to vote for,” said Council Member Mary Kay Sigaty, D-District 4, adding the county should examine an overall tax package to help all residents in need.
The council voted 3-2 Wednesday to pass the amended version of a bill that limits the tax-cut law for seniors, which was enacted last fall and goes into effect in July. That law grants residents who are 70 and older a 25-percent credit.
“Everybody put a great deal of time and energy into this,” said Council chair Calvin Ball, D-District 2, who sponsored the bill that was based on a task force?s recommendations.
The bill passed Wednesday includes:
» An asset test that includes property, cash and investments of up to $500,000, but excludes the house and life insurance policy
» An income limit of 500 percent of federal poverty level, or about $68,500
» A requirement that residents take advantage of state credits before applying for the county credit
Council Member Greg Fox, R-District 5, voted against the measure, saying not all his concerns were addressed, but “it?s a move in the right direction.”
Council Member Courtney Watson, D-District 1, who also voted against the bill, said she would rather the county let the law stand and work on a new tax package. “I think we failed to reach consensus,” she said.
Task force chair Ted Meyerson said the bill addressed most of the task force?s recommendations. As for the asset test, “I would have preferred it another way,” he said.
Meyerson said he is hopeful the group can now expand its scope to review broader tax policy to address needs of other residents, regardless of age.
