Bill > H2922

This bill proposes to authorize the Massachusetts Housing Finance Agency (MHFA) to establish a Senior Property Tax Deferral Revolving Fund. This fund would provide financial assistance in the form of loans to cities and towns to cover 100% of deferred real property taxes for eligible seniors. Seniors aged 65 or older who have owned and occupied their property in Massachusetts for at least 5 years can enter into a tax deferral and recovery agreement with their local assessors' board to defer their property taxes. Upon the sale or transfer of the property, the deferred taxes and interest, which cannot exceed 60% of the property's value, would be repaid to the fund. The bill also outlines the process for handling the deferred taxes upon the death of the property owner.

Budget and Finance

https://malegislature.gov/Bills/192/H2922