Hillsborough County Commissioners approved a measure this week that would increase the tax exemption that seniors can take on their homes.
The proposal, brought to the board by Commissioner Kevin Beckner on Wednesday, increases the property tax exemption for seniors 65 and older from $40,000 to $50,000.
The measure also provided for an additional homestead tax exemption equal to the assessed value of the senior's home if they've lived there for 25 years and the value of the property doesn't exceed $250,000.
Collectively the two new measures will result in about $178,000 in loss revenue for the county annually, said Tom Fesler, county business and support services director.
The tax exemptions will take effect in 2014. Both measures passed unanimously at Wednesday's meeting.
Joe White, a Hillsborough County resident, stood in support of the senior tax program.
"It's a great program," White said during the board's public comment period adding that disabled people should also be considered for future tax exemptions.
For more information about the new senior tax exemptions contact the Hillsborough County Property's Appraisers Office at 813-272-6100.
Do you agree or disagree with the county's new senior property tax exemptions? Will these new exemptions help you or someone you know? Tell us in the comments.