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Bill > H2477


MA H2477

Relative to the establishment of a means tested senior citizen property tax exemption


summary

Introduced
01/22/2019
In Committee
02/27/2020
Crossed Over
Passed
Dead
12/31/2020

Introduced Session

191st General Court

Bill Summary

Relative to the establishment of a means tested senior citizen property tax exemption. Revenue.

AI Summary

This bill establishes a means-tested senior citizen property tax exemption in Massachusetts. The key provisions are: - The exemption applies to residential property owned and occupied by a person 65 years or older whose prior year's income did not exceed the income limit for the state's circuit breaker income tax credit. - The exemption amount is equal to the total property tax due, minus 10% of the owner's income and the amount of the circuit breaker tax credit. - The total exemptions granted in a city or town are capped at 0.5-1% of the residential property tax levy, and if the cap is reached, the exemption amount is reduced by raising the income percentage. - Homeowners must apply for the exemption each year and meet certain criteria related to age, income, asset limits, and length of residency in the city/town. - The exemption must be certified by the Department of Revenue before it can be implemented, and it expires every three years unless the city/town votes to re-accept it.

Committee Categories

Budget and Finance

Sponsors (20)

Last Action

Bill reported favorably by committee and referred to the committee on House Steering, Policy and Scheduling (on 02/27/2020)

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