Knox County Mayor Glenn Jacobs and Knox County Trustee Justin Biggs are co-sponsoring a resolution that would provide a tax freeze for thousands of local senior citizens who own homes in the area.
Knox County currently offers a property tax freeze program for those 65 years and older who earn no more than $42,440 annually. State lawmakers recently agreed to let local leaders increase the ceiling on the income to $60,000. The program provides for an exemption to hold steady the assessed value of their primary residence so that their taxes don’t increase.
“Big thanks to the state and to Trustee Biggs for making this program possible and for raising the income limit for inclusion,” said Mayor Jacobs. “It’s a great way to take care of vulnerable people while helping them stay in their homes.”
“It feels good to be able to work with Mayor Jacobs to bring this to Commission,” said Trustee Biggs. “I think this program change will make a big impact for a lot of folks.”
Mayor Jacobs and Trustee Biggs plan to bring their resolution to the Knox County Commission later this month during the board’s regularly scheduled meetings. If approved, the increased income cap would take effect July 1. Property taxes for those eligible would be frozen at the current assessed value.