Seniors

June 27, 2007

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Republicans Give Back to Seniors, Advocate Quality of Life Issues

Repeal of the Intangibles Tax saves seniors from a re-tax on their retirement savings.

In 2006, the Republican-led Legislature worked to repeal the unfair Intangibles Tax.
The tax unfairly re-taxed savings accounts, and penalized seniors and savers alike for doing exactly what their financial planners and the government have advised: save for the future.
Republicans are willing to stand up and fight for lower taxes. We know that seniors have already put in their time in the workforce, and they should have the opportunity to more freely enjoy the retirement they have been saving for.

Senior Homestead Exemption Helps low-income seniors.

Governor Charlie Crist recently signed legislation that will double the additional homestead exemption available to low-income seniors.
In 2006, the Republican-led Legislature extended the maximum additional Homestead Exemption for low-income seniors.
Previously, low-income seniors could claim an additional $25,000 Homestead Exemption.
Now these seniors can claim an additional $50,000 exemption.
"We have an obligation to provide our state’s seniors the utmost respect and dignity," Governor Crist said. "Unfortunately, high property taxes are forcing many seniors to choose which bills they can afford to pay. This legislation provides additional help to those who need it most and can help make living in Florida more affordable."

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