Movie mogul Tyler Perry has donated $750,000 to provide assistance to low-income seniors in the city of Atlanta to be used toward the payment of their property taxes.
According to the Atlanta Journal-Constitution, Perry has pledged $500,000 each year over the next four years to ensure the seniors don’t pay any more in such taxes.
Rising property taxes have been a leading factor in the displacement of legacy residents, with even modest increases in property taxes disrupting the lives of seniors living on a fixed income.
“Atlanta’s growth and prosperity should not come at the expense of our legacy residents—many of whom have been priced out of their homes in previous years,” Mayor Andre Dickens said in a press release. “Tyler Perry has been engaged in our ongoing conversations around legacy resident retention, and he told me he wanted to do something to support these efforts. Thanks to his generosity, more Atlantans will be able to remain in the communities they built.”
The $750,000 donation will go toward:
- Paying off all back property taxes for every low-income senior in Atlanta. More than 300 low-income seniors currently owe back taxes. The assistance will cover not only city taxes, but back Fulton County and school taxes.
- Freezing property taxes for 100 low-income seniors by using funds to pay the difference between present day property taxes and property tax increases through a pilot program.
The funds will be administered by Invest Atlanta Partnership, the nonprofit wing of the city’s economic development authority.