Fritz Kaegi OK'd tax breaks for 'low-income' seniors, now demands …

1 day ago · Fritz Kaegi OK'd tax breaks for 'low-income' seniors, now demands proof they qualify amid Sun-Times probe The Cook County assessor’s move was prompted by a Sun-Times …

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Cook County Homeowners Told: Pay Up For Property Tax Breaks …

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Jul 8, 2022 · After Sun-Times reports exposed questionable tax breaks, Cook County Assessor Fritz Kaegi tells four people to pay a total of $254,298 for years of tax breaks they shouldn’t …

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Reporting On Property Tax Breaks Obscures The Full Story Of …

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Dec 25, 2021 · IPSD 204 has a district low-income percentage population of 17%. The latest map proposed by the administration recommended an increase in the low-income percentage at …

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Senior Tax Rebate StayNJ Gets $220 Million In 2025 NJ State Budget

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Jun 29, 2024 · The $56.6 billion budget signed by Gov. Phil Murphy Friday evening includes $220 million for StayNJ, a tax break for seniors designed to help older residents remain in New …

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Senior Citizen Tax Relief Bill Wins Final Approval — But Fate Still ...

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Jun 30, 2023 · Others noted the $500,000 income cap means the state will be steering aid to residents who need no help to pay property taxes. “We have seniors in the state of New …

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10 Tax Breaks For People Over 50 | Retirement | U.S. News

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Feb 26, 2024 · Seniors can earn more income than younger workers before submitting a tax return. People age 65 and older can earn a gross income of up to $15,700 before they are …

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‘Senior Freeze’ Property Tax Breaks In Cook County Riddled With …

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Jun 25, 2021 · Cook County Assessor Fritz Kaegi’s office admits it’s made numerous errors in calculating the property tax savings under the senior freeze program — which totaled $250 …

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FAQs about Fritz Kaegi OK'd tax breaks for 'low-income' seniors, now demands … Coupon?

Why did Cook County Assessor Fritz Kaegi fail?

Cook County Assessor Fritz Kaegi admits that his office made numerous errors managing the senior property tax freeze program, resulting in a shift of $250 million in taxes from eligible seniors onto everyone else. Some of the problems were attributed by Fritz Kaegi to a mainframe computer that was purchased decades ago. ...

When did Kaegi & Berrios get a senior freeze?

According to county records, Kaegi and Berrios' senior freeze dates back to 2011. At that time, Kaegi's predecessor Joseph Berrios locked in the value of their 58th-floor condo at $399,414, meaning they would pay property taxes on no more than that figure, regardless of how much their unit increased in value. ...

What tax breaks are available for people over 50?

Here are 10 tax breaks for people over 50: Bigger standard deduction. Higher tax-filing threshold. Property tax breaks. Credit for the elderly and disabled. Additional IRA deduction. 401 (k) catch-up contributions. No more early withdrawal penalty. ...

What is the tax filing threshold for a 65-year-old couple?

The tax-filing threshold for couples aged 65 and older is $30,700 or $29,200 if only one spouse is at least 65, compared to $27,700 for younger couples. However, people below the filing threshold may want to submit a tax return to qualify for tax credits or a refund of income tax that was withheld. 3. Property Tax Breaks ...