Answered>Order 91
Mr. and Mrs. Woodard, an elderly couple with no dependents, have taxable source income of $8,000 and $26,000 income from social security. They own property assessed at $75,000 (current market value of 190,000) and are subject to a property tax rate of $5/$100 assessed value. They both receive an old-age property tax exemption of $500. […]