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)
“In the kingdom of consumption the citizen is king. A democratic monarchy: equality before consumption, fraternity in consumption, and freedom through consumption. The dictatorship of consumer goods has finally destroyed the barriers of blood, lineage and race.”
—Raoul Vaneigem (b. 1934)
“But the tax collector, standing far off, would not even look up to heaven, but was beating his breast and saying, ‘God, be merciful to me, a sinner!’”
—Bible: New Testament, Luke 18:13.
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—Ada Anderson (1860–?)