Senior Citizen Tax Break
Shockey is a 40-year-old as of June 2006. But according to tax records of the District of Columbia, he is a senior citizen who earns less than $100,000 a year. That qualifies him for a major reduction of the taxes he pays on his District home, worth over a million dollars. The tax break essentially reduces the assessed value of an elderly person's home in half. In Shockey's case, he saved around $4,000 in 2005 by receiving the deduction, according to the city's online database.
Read more about this topic: Jeff Shockey
Famous quotes containing the words senior, citizen, tax and/or break:
“Never burn bridges. Today’s junior prick, tomorrow’s senior partner.”
—Kevin Wade, U.S. screenwriter, and Mike Nichols. Katharine Parker (Sigourney Weaver)
“[M]y conception of liberty does not permit an individual citizen or a group of citizens to commit acts of depredation against nature in such a way as to harm their neighbors and especially to harm the future generations of Americans. If many years ago we had had the necessary knowledge, and especially the necessary willingness on the part of the Federal Government, we would have saved a sum, a sum of money which has cost the taxpayers of America two billion dollars.”
—Franklin D. Roosevelt (1882–1945)
“Rumble thy bellyful! Spit, fire! Spout, rain!
Nor rain, wind, thunder, fire are my daughters.
I tax you not, you elements, with unkindness;
I never gave you kingdom, called you children.”
—William Shakespeare (1564–1616)
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—Ellen Henrietta Swallow Richards (1842–1911)