Bill > H3732

This bill authorizes the establishment of a means-tested senior citizen property tax exemption. To qualify, the property must be owned and occupied by a person aged 65 or older (or 60 if jointly owned with someone 65 or older) who received the state's "circuit breaker" income tax credit in the prior year. The exemption amount is set annually by the local board of assessors, ranging from half to twice the circuit breaker credit amount, and the total exempted cannot exceed 1% of the total tax levy. Applicants must apply each year and provide income and asset information, which the assessors can use to deny the exemption if the applicant has excessive assets. The exemption cannot be granted until the state Department of Revenue certifies that the total exemption amount is raised through a burden shift within the residential tax levy.

Budget and Finance

https://malegislature.gov/Bills/192/H3732