Mon., June 20, 2011 12:01am (EDT)

Tax Re-Write Could Keep Retirees From Moving To GA
By Noel Brown
Updated: 3 years ago

AUGUSTA, Ga.  —  
Georgia has long been considered among the top places in the country to retire. But a recent proposal to eliminate tax breaks for seniors could be scaring off some retirees. Image courtesy Luca di Filippo)
Georgia has long been considered among the top places in the country to retire. But a recent proposal to eliminate tax breaks for seniors could be scaring off some retirees. Image courtesy Luca di Filippo)
This year several Georgia retirement communities made “Where to Retire” magazine’s top 50 list of planned developments.

One factor that draws thousands of retirees to the state is a $35,000 tax-free income for people over the age of 62.

But the proposed tax code re-write considered during the last legislative session would have done away with the exemption.

Bobbie Jean Bennett of the Georgia State Retirees Association says many seniors living on fixed incomes would likely leave the state if the law passed.

She spoke with one woman who moved to Georgia with her husband specifically for the tax break.

"The comments were: 'We’ve made the decision to move to Georgia and now they’ve changed the rules on us,' and she was very angry about the situation."

The tax reform bill didn’t pass this year but could return for debate in 2012.