Bill > S2525

This bill establishes a Hingham means-tested property tax exemption for qualifying residential parcels owned and occupied by senior citizens (age 65 or older) who meet certain income and asset criteria, including having been domiciled in Hingham for at least 10 consecutive years. The exemption amount, ranging from 50% to 100% of the state's "circuit breaker" income tax credit, will be set annually by the Board of Selectmen. The total exempted amount can be funded through a proportional levy on all taxpayers or an appropriation/transfer from the town's existing funds, not exceeding 1% of the municipality's tax levy. The exemption must be approved by the Board of Assessors and will expire in 3 years unless reaffirmed by the town's Town Meeting.

Joint Committee on Revenue (J)

https://malegislature.gov/Bills/191/S2525