Bill > S1629

This bill establishes a means-tested senior citizen property tax exemption in Massachusetts. The key provisions are: 1. It allows seniors aged 65 and older, whose prior year's income did not exceed a certain limit, to receive an exemption from their property taxes. The exemption is equal to the total tax assessed minus 10% of the senior's income and any circuit breaker income tax credit the senior received the prior year, with a maximum exemption of 50% of the property tax. 2. The exemption is subject to certain eligibility criteria, including residency requirements, maximum property value limits, and approval by the local board of assessors. 3. There is a statewide cap on the total exemption amount, initially set at 0.5% of the residential property tax levy, which can be adjusted annually by local authorities between 0.5% and 1% of the levy. 4. The exemption must be re-applied for every three years, and a city or town must vote to re-accept the exemption program every three years for it to continue.

Budget and Finance

https://malegislature.gov/Bills/191/S1629