O-26-025 is on the agenda for final passage with the Personnel committee's recommendation; an Assessing Department communication on the income limits is also listed.
Assessing staff told the Board of Assessors that the department recommended raising the elderly exemption income limits by about $2,000 using a three-year rolling CPI average, which needs Board of Aldermen approval before December 1. A separate ordinance would make the annual adjustment automatic starting in 2027, as the city solicitor has found permissible.
Recommended O-26-025 for final passage on a voice vote. It raises the elderly and disabled exemption income limits and indexes them to a rolling three-year CPI, with an annual letter from the assessing department; exemption amounts are unchanged. Members asked about the missing fiscal note; assessing staff did not expect many new applicants and offered to track how many would not have qualified without the change. Aldermen Ben Clemons and Paula Johnson were co-sponsors.