The available data from the Census and other sources confirms that there are many Stockbridge households with very limited incomes, and that this is not limited to elderly residents. 44% of resident households have annual incomes below $50,000. 17% have incomes below $25,000. 13.1% of Stockbridge residents live in poverty, approximately equally divided between seniors and younger households. The data does not indicate how many of these low-income households are owners and how many are renters but those that are owners are a primary target of the proposed exemption.

Another potential goal is to attract younger households to Stockbridge. The median home value in Stockbridge is 18% higher than the State average, but the median household income in Stockbridge is 26% below the State average. This mismatch of incomes and home values makes it very difficult for area residents to purchase homes in Stockbridge. The disparity is caused primarily by the strong market for second homes which drives up home prices far beyond what the residential market could otherwise support. The proposed exemption partially offsets the higher purchase cost by reducing the tax burden, allowing the money saved on taxes to fund a larger mortgage. This benefit should not be overly touted but it provides an incentive for younger buyers to consider settling in Stockbridge.

The shift in tax burden resulting from a 10% residential tax exemption is estimated to cause non-resident tax bills to increase by 3%. This comes to $250+- for a property valued at the average level in Stockbridge of $600,000. The exemption program does not have to be perfect to justify this small additional expense. The benefit to low-income Stockbridge residents is sufficient to offset the additional cost until a more targeted program can be approved by the State and implemented locally.