Bill > H3055

This bill proposes to create a local option property tax cap for low-income seniors (aged 65 or older) in Massachusetts. Under the bill, cities and towns can choose to implement a property tax cap for eligible seniors with incomes of $50,000 or less for single filers and $60,000 or less for married filers, and assets of $75,000 or less (excluding their primary residence and one vehicle). The property tax assessment and rate changes for these eligible seniors would be recalculated annually, with the lower of the two calculations prevailing as the property tax levy for that year. The bill defines "income" as the applicant's adjusted gross income for federal income tax purposes, reduced by distributions from individual retirement accounts and annuities.

Budget and Finance

https://malegislature.gov/Bills/192/H3055