Retirees face fixed income inadequacy as property taxes outpace social security growth

Elderly homeowners who have paid off mortgages are trapped by rising property tax obligations that grow faster than their fixed social security benefits (2.8% annually), forcing them to sell homes or face financial hardship in retirement. Current solutions like property tax deferrals or exemptions are insufficient, fragmented by region, and don't address the structural income-expense mismatch for asset-rich but cash-poor seniors.