Yes, this exemption is currently on the books in many Georgia counties but that’s just for today.

Our country, our state, and our state school districts are seeing red ink on balance sheets. Future senior citizen tax breaks are not likely with financial meltdowns as far as the eye can see.

General Motors is currenly losing $170 million dollars a day.

Georgia is projected to have a budget deficit of between one and two billion dollars next year.

The Augusta school district has already hinted about eliminating the senior citizen school exemption. No doubt other Georgia school districts will follow their lead.

Senior citizen tax breaks are great, when the coffers are overflowing with money. That’s no longer the case.

Let’s switch gears a bit.

‘Will you still love me? Will you still tax me? When I’m 62?’

Are those song lyrics? Someone should write a song with such cute phrasing. Somewhere, there’s a song here. Gotta be!

I read some cute phrasing the other day, and strangely enough they’re somewhat applicable to real estate. Perhaps to my foreclosed home in disrepair?

Here they are:

I’m Fixing a Hole
Where the rain gets in
And stops my mind from wandering

I’m filling in the cracks
that ran through the door
and kept my mind from wandering.

How do I get these sing-songy tunes out of my head? I think I’m going out of my head.

Well, at least I can look at the strawberry fields in my back yard while I’m fixing these holes. Strawberry fields forever.

BTW, I looked at the Orchards in Roswell a good five-years ago. I think the prices have gone way up. I remember some of the models being under $200,000. I think? No doubt they’re down a little now.

Happy house hunting!

I just ran into a lending problem with new ranch condos in Cobb County - low occupancy rate and low sales performance have made Fannie Mae and Freddie Mac very nervous. Of course, sales performance is low because the lenders won’t fund. More mortgage hangover woes.

And, in East Cobb, the developers fight ongoing zoning issues from neighborhoods that mistakenly believe “condos” are going to diminish their market value.

You are exactly right. The Orchards and other senior housing projects are very hot in Cherokee right now. In fact, that’s about the only product developer’s will consider entering into in this market. Cherokee and Cobb have had this exemption for years and have had no problem generating enough tax base.

If you think about it, 62+ old citizens are almost the perfect residents for a county. They seek smaller housing, don’t have children using the schools, and they don’t commute and clog the road systems. Plus, they usually shop locally and pay sales tax. Damn near perfect citizens = they deserve the school tax exemption.

It is definitely time for Milton County, as Cobb and Cherokee are readily positioned to take advantage of the Baby Boomers aging.

I also wish Milton County would come to fruition,

Also, one more reason to form a Milton County, because you’d never get Fulton County to do anything like this.

I’d be curious to know how Cobb and Cherokee plan on replacing this tax revenue, though.