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- 77 <br /> z n.. :,.. .... ., ,- .. : u'��.3 ,,.. ,.. ,,,._„ . ..<�t . ,. ate, Ya,",.Sr "" '� ✓s-:y'd + .rP 3 , ...a` <br /> s'1s '� xirr4i "& 4 s �.y , ., ` .?gt , , . <br /> aR< "�asA�'€�b' <br /> provide an additional homestead exemption of up - to- $ 25 , 000 to resident homeowners who <br /> have legal or equitable title of the real estate . The State attempted to make an estimate over <br /> a year ago but staff felt it was inaccurate . There is no data base with all the information . He <br /> specified that we do not know how many people over 65 have a homestead exemption nor <br /> how many of them have an annual income of $ 20 , 000 or less on line 33 of their 1040 tax <br /> form . These unknown quantities make it very difficult to estimate with any accuracy how <br /> the budget would be affected . He knew of no other county in the state that has been able to <br /> come up with a good estimate . He pointed out that a tax cut given those individuals would <br /> necessitate a redistribution of tax burden to other property owners . He questioned the <br /> findings of Don Wilson of the Office of Economic and Demographic Research ; they <br /> estimated a reduction of revenue for Indian River County of $ 576 , 727 . Mr . Wilson advised <br /> him there was no data base in the state with the necessary factual information . Mr . Baird <br /> also made the point that people might have tax - exempt income and receive a lot more <br /> income than required on line 33 of their 1040 . <br /> Commissioner Macht spoke against the County pursuing it for reasons such as an <br /> opportunity for fraud , the burden on the Property Appraiser and others who have to work <br /> with it; and the unfair burden which would shift to others who do not make $ 20 , 000 a year <br /> and may be raising a family and might not even own their homes . <br /> Chairman Ginn was concerned because it does shift the tax burden to everyone else . <br /> Commissioner Adams felt that if the Legislators had really wanted to help the <br /> counties , they would have required that everyone pays on the first $ 25 , 000 value and all the <br /> exemptions come off over that which would be more fair and equitable . She also believed <br /> the $ 500 disability exemption was far too low ; making it higher was probably more <br /> deserving because of the additional impacts in assisting the disabled . <br /> Vice Chairman Stanbridge explained that her initiative was to see if some sort of data <br /> January 9 , 2001 <br /> 58 <br /> P 6 9 8 <br /> 5 1 <br /> Y Ryv ' vN <br /> 4 <br /> .. . , ..,. _ _ x . . . . <br />