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:
“I suffer whenever I see that common sight of a parent or senior imposing his opinion and way of thinking and being on a young soul to which they are totally unfit. Cannot we let people be themselves, and enjoy life in their own way? You are trying to make that man another you. One’s enough.”
—Ralph Waldo Emerson (1803–1882)
“The citizen who criticizes his country is paying it an implied tribute.”
—J. William Fulbright (1905–1995)
“Change of fashion is the tax levied by the industry of the poor on the vanity of the rich.”
—Sébastien-Roch Nicolas De Chamfort (1741–1794)
“Saint, saintliness is a long way off.
It is like a tall and beautiful palm tree.
If you climb it, you drink the love potion,
but if you fall you break into pieces.”
—Punjabi proverb, trans. by Gurinder Singh Mann.