Based on the applicant’s income, senior taxpayers within the city limits may possibly defer all or a portion of their property taxes if they qualify for the program.

Qualifying seniors are 65 or older and have a household income not exceeding 130 percent of the federal poverty level for household size. For a qualified applicant, the City of Suwanee will pay a portion of the property tax, attaching a lien to the property. The property tax deferment will be treated as a loan with an interest rate of five percent. When the property is sold or transferred or no longer qualifies as a homestead, the deferred taxes plus interest will be due to the city.

If the taxes and interest are not paid within 120 days of the property becoming ineligible, the taxes will be considered delinquent and penalties will apply. A lien will be placed on delinquent properties, but the city will not pursue a tax sale. During any year, if the total amount of liens, deferred taxes, and interest exceeds 85 percent of the fair market value, the excess amount must be paid within30 days. Taxes can only be deferred on the first $100,000 of assessed value.

Senior School Tax Exemption

The City of Suwanee recognizes the Senior School Tax Exemption (L5A). The L5A provides a 100% exemption from taxes levied by the Gwinnett County Board of Education on the homestead for citizens 62 or older. It also includes a $10,000 off the assessed value on the county, and $7,000 off recreation. The city recognizes this exemption by also giving $10,000 off the assessed value on the city’s property taxation.