Our county and state need a good Homestead Act

We need to have a homestead act enacted in this county. There is enough folks moving into this county everyday to support this act. Make the new folks and the developers pay for their share of their impact. When you make the last payment on your car, you can sleep at night knowing no one can take it away from you. Well, when I make that last FICA payment on my last paycheck or heaven forbid have a disabling accident I want to be able to sleep at night without worrying about someone taking my house away from me. It isn't fair to a 70-year-old-plus couple who's family has had a home for five generations that when they were 10 in 1933 it was worth $6,000 and now it is appraised at $380,000. Over the last 58 years of so of his or her life they have paid more than their fair share.

My proposed Homestead act? How about if 65 or older or 100% disabled then the first $400,000 of property is exempt from the "school percentage" of property taxes? They still use services and drive on the roads. They just don't have anymore school-age children and have paid more than their share for theirs and others already. For people less than 100% disabled apply the percentage to their amount of exemption and relief. 60% disabled can exempt 60% of the "school share" of property tax while paying the 100% (just like the retirees and 100% disabled) of the other property tax uses over the amount of their exemption. Also make this a 'vested' tax break, allowing 10% of the break for every year of ownership. Another thing to make it more fair is to 'equalize' the land's value over the life of ownership. If someone has had the property for seventy years and someone builds a mall or school or subdivision close by, it is not their fault their land has gone up in value. How about you take the assessed value of the land each year of ownership (up to twenty years) and divide it by the total years of ownership (up to twenty years) and tax the 'equalized' value for homestead qualifiers?

Did you know the state already has some form of tax relief, Tennessee Property Tax Relief Program?

I want a better one