Bill > H4473

This bill authorizes the city of Salem to establish a means-tested senior citizen property tax exemption. Under this act, qualifying seniors in Salem who received the state's "circuit breaker" income tax credit in the previous year can receive a 50% reduction on their property taxes, up to a cap of 0.5% of the city's total residential property tax levy. The exemption is available to single applicants aged 65 or older, or joint applicants where at least one is 65 or older, who have been domiciled and owned a home in Salem for at least 10 consecutive years, and whose prior year assessed home value does not exceed the maximum for the state's circuit breaker credit. The exemption must be reauthorized by the city council every 3 years.

Joint Committee on Revenue (Joint)

https://malegislature.gov/Bills/191/H4473