In South Dakota, homeowners aged 50 and older can qualify for property and sales tax refunds, as advocated by the local AARP chapter aimed at raising awareness. With many elderly individuals living on fixed incomes, escalating property taxes become a significant burden, especially when their property values rise. In contrast, Denver has a more stringent program for residents aged 65 and older or disabled, with income limits set at 60% of the area median. Both locations emphasize the need for property tax assistance, highlighting the importance of deferral programs as proposed by experts for long-term relief.
In South Dakota, many elderly homeowners struggle with rising property taxes due to increased property values, often while living on fixed incomes and facing basic living costs.
Alicia Munnell noted that property tax deferral programs are essential for aiding older homeowners, although they only postpone tax payments rather than forgive them.
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