Senior homeowners could benefit as multiple states put property tax changes on the ballot

Voters in three states will consider property tax changes in November that could offer relief to homeowners, particularly older residents coping with rising housing costs on fixed incomes. Property taxes have become a growing financial concern even for people who have paid off their mortgages. ATTOM data cited in a recent report by Kiplinger shows that the average annual property tax bill for a single-family home nationwide is $4,427 — an increase of more than 3% from the previous year. Louisiana voters will decide this fall whether to allow local governments to expand tax relief for qualifying homeowners ages 65 and older. Under a proposed constitutional amendment created by House Bill 514, parishes and municipalities could offer an additional exemption to homeowners who occupy their homesteads and qualify for the state’s special assessment level program. The measure would not create a statewide tax exemption. Instead, local governments could choose whether to participate. If approved on Nov. 3 and adopted locally, the exemption would apply to tax years beginning Jan. 1, 2028, according to the Kiplinger report. Oklahoma’s State Question 847 would reduce the annual cap on increases...