Bill > H2470

This bill establishes a means-tested senior property tax exemption that cities and towns can choose to adopt. The exemption applies to the primary residence of seniors aged 65 or older (or 60 with a joint applicant aged 65+) who meet certain income and asset requirements, including being eligible for the state's "circuit breaker" tax credit. The exemption amount is set annually by the local Select Board or Mayor within a range of 50-200% of the circuit breaker credit, and the total exemption amount is limited to 1% of the municipality's tax levy. Applicants must apply annually and provide documentation of their income and assets. The exemption cannot be implemented until the Department of Revenue certifies that the total exemption amount is raised through a tax levy burden shift rather than a revenue reduction.

Budget and Finance

https://malegislature.gov/Bills/191/H2470