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Freeze on property taxes: Atlanta's $10M initiative to prevent senior displacement
Freeze on property taxes: Atlanta's $10M initiative to prevent senior displacement

Yahoo

time19-05-2025

  • Business
  • Yahoo

Freeze on property taxes: Atlanta's $10M initiative to prevent senior displacement

The Brief Atlanta's Anti-Displacement Tax Relief Fund offers long-term property tax relief to eligible senior homeowners to prevent displacement due to rising property values. The program is privately financed, freezing property tax rates for seniors at current levels and covering future increases for up to 20 years. Seniors must act quickly to apply by the deadline of May 31, 2025, with eligibility criteria including age, residency, income limits, and homeownership status. ATLANTA - With just two weeks left before a crucial deadline, advocates and city leaders in Atlanta are calling on senior homeowners to act quickly to avoid being priced out of their homes. What we know Wayne Martin, former vice president at Morehouse School of Medicine and a candidate for Atlanta City Council District 11, held an emergency news conference Sunday at the intersection of Beecher Street and Cascade Avenue in Southwest Atlanta to promote the city's Anti-Displacement Tax Relief Fund. He was joined by senior residents and community supporters who have benefited from the program. "We are here today because the stakes could not be higher," Martin said. "With just two weeks left before the deadline, I want every senior homeowner in Atlanta to hear this message clearly: Help is available, but you must act now." The citywide program, administered by Invest Atlanta and backed by a $10 million commitment from the Centennial Yards Housing Trust Fund, provides long-term relief by covering property tax increases above a set base level for eligible senior homeowners. The initiative aims to prevent displacement caused by gentrification and rising property values. Dig deeper To qualify, residents must be 60 or older, have lived in Atlanta since 2015, maintain an active homestead exemption, meet income limits, and own their home free of liens or other encumbrances. The program freezes property tax rates at current levels and covers future increases for up to 20 years. "This program ensures that those increases don't affect [seniors]," Martin said. "It'll effectively freeze their current rate in time, and any overages will be paid by this private fund." Martin emphasized that the relief fund is privately financed and not dependent on city tax revenues. He credited the developers of Centennial Yards for making the contribution as part of a community benefits agreement tied to the major downtown redevelopment project. What they're saying Local seniors who have already enrolled in the program spoke at the event, sharing how the tax relief helps them stay in their homes amid rising costs. "I applied because the taxes were going up, up, and away," said Diane Trimble, a resident of Oakland City for 40 years. "I'm on a fixed income, and I wanted to make sure I could stay in my house." Linda Brantley, a Beecher Hills resident who also applied for the program, said the relief provides peace of mind. "It makes me feel awesome knowing that I wouldn't have to pay [increased] taxes," she said. "I get a chance to save and do other things." What's next Martin stressed the urgency of the situation, urging eligible residents to apply immediately and encouraging the broader community to help spread the word. "Our seniors have paid their dues. They built our communities, raised families, and kept the culture of Atlanta alive," Martin said. "They deserve to age in place with dignity." The deadline to apply for the Anti-Displacement Tax Relief Fund is Friday, May 30, 2025. What they're saying For more information or to apply, visit Seniors may also seek help through community partners, including Meals on Wheels Atlanta, Rebuilding Together Atlanta, and The Nehemiah Project. The Source The details in this article come from a press conference held by Wayne Martin attended by FOX 5.

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