Delaware Lawmakers Leery of Cutting Senior Tax Subsidies - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Delaware Lawmakers Leery of Cutting Senior Tax Subsidies

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DOVER, Del. (AP)- Legislative budget writers don't have the political appetite to swallow Delaware Gov. Jack Markell's proposal to cut property tax breaks for senior citizens in order to balance the budget for the fiscal year starting July 1.

After being presented with several options Thursday by Markell's finance director, members of the Joint Finance Committee put the issue on hold indefinitely.

Currently, the state offers school property tax subsidies of 50 percent, or $500, whichever is less, to property owners ages 65 and older.

To help balance his proposed $3.9 billion spending plan, Markell proposed saving more than $12 million by cutting the subsidy in half, to 25 percent, or $250.

Several lawmakers made it clear that they want to preserve the tax credit, especially for the 60,000 residents currently eligible for it.

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