My friend Bob Osborne, who is in his 80s, would like to see a law passed so that people don’t have to pay taxes after they hit the age of 80 years old. No property taxes. No vehicle taxes. No income taxes. Nothing.
His argument is that those people have already paid enough taxes during their lifetime.
Such a law would make a lot of sense and benefit a lot of seniors, almost all of whom are already on a fixed income.
It would keep seniors from losing their homes because they can’t afford property tax increases, which is happening more often.
I have to say it is an interesting argument. As someone, who is already 55 years old, the proposal is looking better every day, particularly if I should ever reach 80 years old.
While I might not ever reach that age, my wonderful wife, Cecelia, has a pretty good shot at it. She has great aging genes. Her grandmother recently passed away at the age of 101 and was only in the nursing home for the last couple of weeks of her life.
Impressive.
While I like Bob’s proposal, I doubt it would ever pass for several reasons.
Nevertheless, part of his wish might come true.
Kentucky Senator Mike Nemes, R-Shepherdsville, filed Senate Bill 51 on Jan. 9.
This is a proposed constitutional amendment. Essentially, the amount a homeowner pays in property taxes the year they turn 65 is the amount they would pay each year after.
If they purchase the property after they turn 65 years old, the bill will set the tax amount at the amount it is when they purchase the property. This only applies to their permanent residence.
The amount would be exempt from rate increases or a new tax assessment that increases the property value and therefore the amount of property taxes someone usually must pay.
To take effect, both chambers of the Kentucky General Assembly must pass the bill and then the governor would have to sign it into law. From there, it would go on the ballot for consideration and potential approval by voters.
Its chances are looking decent.
On Jan. 22, the Kentucky Senate approved the bill, 37-0.
It was received in the Kentucky House of Representatives on Jan. 23 but has not gone anywhere since. This is usually not a good sign.
If this proposed constitutional amendment gets on the ballot, then I think there is a good chance that voters approve it.
Most people think I am joking when I say that if I ever was crazy enough to run for office, I would want to place my campaign ad in the newspaper right across from the obituary page.
There are two things that old people, or seniors if you prefer a more politically correct term, do religiously. One is read the obituaries. (This one makes more sense the older I get…LOL). The second is that old people vote regularly.
Since old people are the ones, who would be most affected by this bill and they definitely vote, I think this constitutional amendment gets approved if it makes it onto the ballot.
In the event anyone is offended by the term old people, let me say that I hope to reach that distinction in the not-too-distant future myself. Hopefully, I will keep getting a little closer to it every day…LOL.
