Bill > H3681

This bill authorizes the city of Salem to establish a means-tested senior citizen property tax exemption. The exemption allows the city to reduce the property taxes of qualifying residents by up to 50% of the state's circuit breaker income tax credit, subject to a cap of 0.5% of the city's total residential property tax levy. To qualify, the property must be owned and occupied by a person or joint applicants aged 65 or older who received the circuit breaker credit the previous year, have been domiciled in Salem for at least 10 years, and have a maximum prior year assessed home value below the circuit breaker credit threshold. The exemption is effective for 3 years initially and can be reauthorized by the city council.

Budget and Finance

https://malegislature.gov/Bills/191/H3681