Tyler Perry is helping nearby senior citizens with a timely donation.

According to TMZ, its sources shared that the billionaire will be donating $750,000 to senior citizens near his Atlanta film production studio due to the rising costs in property taxes impacting them. Following the studio’s success, there has been an uptick in the value of the surrounding land.

The donation will ensure residents will not have to move away from their homes as many are living on fixed income.

How the donation will be dispersed: A source told TMZ that Perry had been in communication with Atlanta Mayor Andre Dickens to help out nearby communities. The plan reportedly includes paying 100 percent of back property taxes for nearly 300 homes of low-income seniors in Atlanta.

Additionally, the $750,000 commitment will freeze property taxes for 100 low-income seniors for two decades, and the funding will consider current and additional property tax increases in the future.

The money will also be used to pay taxes imposed by the city, county, and school districts.

More funding on the way: What’s more, Perry’s efforts won’t stop there. He will be donating an additional $2.75 million spread out over four years, which will be managed by Invest Atlanta Partnership.

The outlet reports Perry’s intention is to pour into the community that has continued to show him love.

The news follows after Perry took the third spot on Forbes’ “World’s 10 Highest-Paid Entertainers” list. As AfroTech previously mentioned, the outlet stated he reportedly earned $175 million in 2022 backed by his success from film, BET TV shows, and Tyler Perry Studios.

He was also the only Black entertainer to make it onto this year’s list. In addition, he was the “sole billionaire” featured in the top 10.

Check out the full read on Perry’s accomplishment here.