City of Topeka Announces Tax Rebate Program for Seniors
In an effort to help older residents remain in their homes, the City of Topeka has announced a tax rebate program for homeowners ages 65 and older. The program, which was initially approved in September, goes into effect this year and is administered by the Department of Administrative and Financial Services.
The rebate program, for which the city allocated $300,000 in funding, reimburses seniors for a portion of property taxes paid, depending on the total amount of property taxes. To be eligible, applicants must have lived in their home for at least five years and have a total annual household income of less than $37,750. The discount is exclusively for those who own and occupy a primary residence within the city limits of Topeka and is not available to renters.
Councilman Spencer Duncan emphasized the city’s commitment to reducing taxes for citizens, stating that the most important thing is to ensure that vulnerable citizens can stay in their homes without worrying about their tax bills. This program is seen as a step in that direction.
Zack Hellman, owner of Tax Prep Tech, commended the initiative, saying that it helps alleviate the burden of property taxes, which is a significant expense for seniors with limited incomes. He also suggested that similar discount programs could be adopted more widely across the country to improve the financial well-being of seniors.
However, financial challenges still persist for older adults, especially in the face of inflation. Social Security recipients saw a 3.2 percent increase in their benefits this year due to the cost of living adjustment, which many feel is not enough to cover their living expenses.
Jonathan Rosenfeld, founder of Rosenfeld Injury Lawyers, warned that the lower cost of living adjustment for 2024 may result in Social Security payments being insufficient to keep up with the rising costs of essential goods and services, especially for older adults who typically face higher health care expenditures and living costs.
With many Americans relying solely on Social Security as a source of income in retirement, the City of Topeka’s tax rebate program could not have come at a more important time. It seeks to alleviate financial pressure on seniors, especially in times of inflation.
Application forms for the tax rebate program can be found on the City of Topeka website. Seniors are encouraged to apply as soon as possible, as the program is time-limited and funds will be distributed on a first-come, first-served basis.