Freeze on property taxes Atlanta's 10M initiative to prevent senior displacement

Atlanta's Anti-Displacement Tax Relief Fund aims to prevent the displacement of senior homeowners facing rising property values by freezing their property tax rates for up to 20 years. Wayne Martin, a candidate for City Council, emphasized the urgency of the situation during a news conference, urging eligible seniors to apply before the May 31 deadline. The program requires applicants to be 60 or older, have resided in Atlanta since 2015, and meet specific income limits. The initiative is privately financed, backed by a $10 million commitment from the Centennial Yards Housing Trust Fund. Local seniors shared their experiences, noting how the program alleviates financial pressure and enables them to remain in their homes.

Martin stressed the importance of community support in spreading the word about the program. This initiative directly addresses the challenges posed by gentrification in Atlanta. Advocates believe it will help preserve the cultural fabric of the community as property values continue to rise.