Judith Moore: Driving seniors out

I live at Croasdaile Village. I’m our elected representative to the North Carolina Continuing Care Residents Association, which represents almost 20,000 residents in nonprofit continuing care retirement communities across the state.

As such, I have been collecting data from residents about the impact of the loss of the medical expense deduction.

In preparing their proposed budget, Senate leaders in the North Carolina General Assembly have said that 88 percent of state residents will not pay more in taxes. They are currently calling for a $20,000 cap on medical, charitable and other allowable deductions.

Thus far, of the 39 residents in my community who have shared information from their 2014 federal tax forms, 15 (or 38 percent) have paid more than $20,000 in medical deductions alone.

We may find that many seniors who in previous years would have elected to spend their retirement years in North Carolina will instead choose a state with tax policies more friendly to elderly residents.

This story was originally published June 25, 2015 at 5:20 PM with the headline "Judith Moore: Driving seniors out."