Referendum A proposes a way of exempting some senior citizens from paying school taxes on their property. The threshold is so low now that most senior citizens who own property have to pay school taxes. This would allow them to subtract income from Social Security, retirement plans and disability benefits when calculating net income to determine if it falls below the $10,000 net income level that would require them to pay school taxes. Income from dividends, salaries, commissions and other such sources still wouldn't be deductible. Bottom line: many more seniors would be eligible for the exemption.