Forum: Look into property tax burden for seniors living in private properties
I share Prime Minister Lawrence Wong’s concern that addressing the rising cost of living and improving care for seniors is a critical issue, one that will only become more pressing as our population ages (
- by autobot
- Aug. 27, 2024
- Source article
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I share Prime Minister Lawrence Wong’s concern that addressing the rising cost of living and improving care for seniors is a critical issue, one that will only become more pressing as our population ages ( , Aug 23). As a community volunteer, I often engage with seniors who express deep concerns about their growing financial burden. What was once a simple lunch at a hawker centre costing $2 has now surged to $6, a stark reminder of how inflation is eroding their financial stability. While initiatives like the CDC vouchers are appreciated, there is a growing sentiment that more substantial action is needed. This strain is particularly severe for senior home owners of private properties. These homes are not investment properties, but homes that they have built and lived in their entire life. Yet, they now face annual property tax that has risen to thousands of dollars. Without a steady income, this burden is unsustainable and is causing significant hardship for many of our seniors. I urge the Government to reconsider its property tax policies for senior home owners. It is crucial to ensure that our seniors can enjoy their golden years with dignity, free from the anxiety of financial strain.