The Village of Great Neck is moving forward with a proposal to increase the household income required to qualify for tax exemption for seniors, an update that clerk-treasurer Abraham Cohan called “trailblazing.” If adopted, more seniors will qualify for tax exemptions.
Under the proposed update, seniors with a household income of less than $39,000 would qualify for the maximum exemption of 50%, with seniors with a household income of up to $47,400 qualifying for some sort of exemption. Right now, seniors with a household income up to $29,000 qualify for the maximum exemption of 50%, and those with up to a $35,600 household income qualify for some sort of exemption.
