DH just turned 55 and we very randomly discovered that, because of his age, we will be able to transfer our current property tax base to our new home. Given the high taxes in CA, this ends up being a big plus in our annual budget. Has me wondering what else we’re missing! Any other discounts/savings that start early?
55+ perks?
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walkinwood
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In Colorado, you can deduct $20,000 of pension income (including 401k or IRAs) from income taxed by the state at ages 55 to 64, and $24,000 after that.
walkinwood
Thinks s/he gets paid by the post
A friend in CA said that this was true as long as your new property costs less than the old one. I can't be certain this is true, but worth checking before you make plans.
Yes, you can transfer the base to a new residence, as long as the new residence is in a participating county and the purchase price of the new property is within 5% of your current property sales price.
ETA, I hadn’t heard that about the valuation. I know there’s a 2% cap, but will look into that.
We discovered that at the restaurant Bonnie's at the Red Byrd in Keedysville, MD the senior discount is applied at 55 instead of 65. It's a Mom 'n Pop type country place kind of out in the sticks. Good food at a fair price though.
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Walt, good thought in checking local restaurants to see what age their discounts may start, though I tend to be the one with the expensive taste buds! 
Walkinwood, no pension here, but hopefully will come as a nice surprise to the upside to someone else!
Walkinwood, no pension here, but hopefully will come as a nice surprise to the upside to someone else!
W2R
Moderator Emeritus
I get a dollar off my haircuts at Supercuts by asking for a "Senior Cut".
In Louisiana, our property tax assessment is frozen over age 65 as long as our income is below a certain amount (I forget how much, a little over $70K IIRC, but it changes from time to time).
In Louisiana, our property tax assessment is frozen over age 65 as long as our income is below a certain amount (I forget how much, a little over $70K IIRC, but it changes from time to time).
And once again, google is my friend. At least when I’m not googling about medical issues
A good list here of chain discounts. The Albertsons one looks pretty good!
https://www.dealnews.com/features/The-Best-Senior-Discounts-from-A-to-Z/987339.html
A good list here of chain discounts. The Albertsons one looks pretty good!
https://www.dealnews.com/features/The-Best-Senior-Discounts-from-A-to-Z/987339.html
55+ perk
One of the biggest perks that DW & I received is that according to our adult sons, as they got older we got smarter.
Granted, that's not a monetary discount per se, but it made us feel like a million bucks!
One of the biggest perks that DW & I received is that according to our adult sons, as they got older we got smarter.
Granted, that's not a monetary discount per se, but it made us feel like a million bucks!
One of the biggest perks that DW & I received is that according to our adult sons, as they got older we got smarter.
Granted, that's not a monetary discount per se, but it made us feel like a million bucks!
Ha! I love that one. Unfortunately, our youngest is 6 months, so I think we’ve got a ways to go before that kicks in.
Another Reader
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Please talk to your local Assessor. These are Prop 60/90 base year value transfers. All 58 counties are subject to Prop 60 that allows you to transfer the base year value to a newly purchased residential property in the same county. If you close on the new property before or simultaneously with the sold property, the market value of the new property must be the same or less than that of the sold property. If you close after the sale of the old property, you are allowed to go up 5 percent in the first year, and 10 percent in the second year. If you do not close on the new property within two years to the day of the close of escrow of the sold property, you lose the ability to transfer the base year value.
Prop 90 covers inter-county transfers of base year values. The receiving county must opt in to Prop 90. Most counties do not accept base year value transfers. Last time I looked, I think there were 11 participating counties.
It's important to talk to the appropriate Assessors if the values are close. Even $1.00 over in value will cause you to lose the ability to transfer the base year value. Also, the Assessor will appraise the properties, and if the transaction is not at market value, may substitute their appraisal. No $20k checks under the table when you buy off market from your brother in law...
Here is some useful information from the State Board of Equalization on base year value transfers.
http://www.boe.ca.gov/proptaxes/prop60-90_55over.htm
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scrabbler1
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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Any known perks in New York? I just turned 55. Enhanced STAR (property tax rebate) doesn't kick in until age 65.
A local supermarket (Best Yet Market) had a coupon for an extra discount if you are 55 or over. My ladyfriend, who is 56, used it.
A local supermarket (Best Yet Market) had a coupon for an extra discount if you are 55 or over. My ladyfriend, who is 56, used it.
Helena
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Here in Texas, most homeowners over age 65 get exemptions on property taxes [how much depends on their county/city] and all homeowners over age 65 in the state get an extra school tax exemption and school taxes frozen.
Here in Texas, most homeowners over age 65 get exemptions on property taxes [how much depends on their county/city] and all homeowners over age 65 in the state get an extra school tax exemption and school taxes frozen.
GoodWishes
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In our city:
55+ can use the senior center. It has nice facilities and many free programs.
55+ gets $20 discount per class taking adult classes.
55+ can use the senior center. It has nice facilities and many free programs.
55+ gets $20 discount per class taking adult classes.
mountainsoft
Thinks s/he gets paid by the post
Last year when I was "only" 53 I got a senior discount at a fast food restaurant. We weren't that hungry so we just ordered a few things from the value meal. The young gal looked at me and gave me the senior discount. We got a laugh from it, but the other side of me thought "how old do you think I am"?
I'll turn 55 in November, so I'll finally be eligible for 55+ housing in the area. Of course, I'm never moving from my home.
I think Denny's and Shari's offer 55+ discounts, but I'm still young enough I wouldn't ask for the discount if they didn't apply it automatically. Same with a couple of local grocery stores that have 55+ discounts.
Around here we can't apply for property tax exemptions till I'm 62, and then only if our income is under $40K. We "should" just fit in by then, but things could change in seven years.
I'll turn 55 in November, so I'll finally be eligible for 55+ housing in the area.
Of course, I'm never moving from my home.I think Denny's and Shari's offer 55+ discounts, but I'm still young enough I wouldn't ask for the discount if they didn't apply it automatically. Same with a couple of local grocery stores that have 55+ discounts.
Around here we can't apply for property tax exemptions till I'm 62, and then only if our income is under $40K. We "should" just fit in by then, but things could change in seven years.
Out of curiousity, is it only the 55+ person that gets a food discount or is it off the entire parties check? My DH isn’t emotionally ready to ask for the discounts yet, but if it were off the whole check that might be a big enough motivator!
daylatedollarshort
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Stores - Ross, Goodwill, Grocery Outlet and assorted local thrift shops have senior days.
Senior Centers - clubs, activities, discounts on classes, low cost bus service bus service, free lunches, Lyft rides.
Live events - some of our local theaters groups have discounts for seniors.
At 62+ California State Parks have discounted off season passes and discounts on entry and camping fees all year.
Senior Centers - clubs, activities, discounts on classes, low cost bus service bus service, free lunches, Lyft rides.
Live events - some of our local theaters groups have discounts for seniors.
At 62+ California State Parks have discounted off season passes and discounts on entry and camping fees all year.
mh
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The t-Mobile 55+ cellphone plan is a pretty good deal
daylatedollarshort
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We also have a 55+ senior plan. Our is with Consumer Cellular with an AARP discount. AARP also has a Denny's discount.
We were using this plan with T-Mobile until we found out the veterans plan is better.
We pay $130 a month for 5 lines and one tablet. That is unlimited on voice, data, and texting. That is the Total bill. No more fees are attached. Includes taxes.
Don't think you can do much better than that.
Service with T-mobile (in my opinion) is stellar. Been with them since they were Cingular.
