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.
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