Bill > H2587

This bill authorizes municipalities in Massachusetts to establish a "Homes Preservation Plan" that allows eligible homeowners aged 65 or older, or those who meet low-to-moderate income requirements, to defer payment of some or all of their real property taxes in exchange for the municipality's right of first refusal when the homeowner decides to sell the property. The deferred taxes would be paid without interest or cost when the property is sold to the municipality or a third party. The bill also allows municipalities to include properties with "Ancillary Units" (i.e., rental units) in the plan and to require the homeowner to limit rent increases in those units. The goal of the bill is to provide tax relief to seniors while also creating more affordable housing opportunities.

Budget and Finance

https://malegislature.gov/Bills/191/H2587