Large climb in seniors using property tax support program

More eligible low-income seniors are utilizing the town's property tax support program than ever before.

A report presented to town council on Oct. 17 states that between 2021 and 2022 the town has seen over a 50 per cent increase in the number of senior homeowners in the program and is projected to be $35,000 over its $50,000 budget.

A preliminary review of the program has been completed, sparked by a notice of motion of Councillor Susan Flowers to increase the rebate to $750 from $500, and a comprehensive review will now be undertaken.

Town administration is turning over control of the program to Family and Community Support Services from Taxation and Assessment and recommendations are expected to be brought forward to council in September 2023 after the review.

The evaluation aims to determine if the program is meeting its original goals. It will examine whether this is the most impactful method of supporting low-income seniors to maintain housing. It will also review the method used to assess financial eligibility, the age eligibility, and the amount of the rebate.

Currently, the program offers the rebate to qualifying seniors 60 and over who own their home, live there, and don't own any other properties. The annual income must be under $29,630 if one person is listed on the title.  For properties with two owners on the title, the combined income must be under $48,120.

According to the report, Cochrane is the only municipality in Alberta offering the rebate to those 60 and 64 years old. All others are for people 65 and over.

Funds will be pulled from reserve to cover the anticipated $35,000 shortfall this year, So far, there have been 156 applications, and another 14 are anticipated to apply by the Dec. 31 deadline.

Stacey Loe, town executive director of Protective and Community Services, told council the 2023 budget will be set with what is known to be the demand, and should there be any change in the program approved by council in the fall it will be included in the 2024 budget estimates.

The program was created in 2006 and initially offered a $250 rebate. It was increased to $300 in 2016, and $500 in 2018.