Bill
Bill > H5405
MA H5405
Authorizing the town of Reading to establish a means tested senior citizen property tax exemption
summary
Introduced
12/01/2022
12/01/2022
In Committee
12/12/2022
12/12/2022
Crossed Over
12/29/2022
12/29/2022
Passed
01/03/2023
01/03/2023
Dead
Signed/Enacted/Adopted
01/05/2023
01/05/2023
Introduced Session
192nd General Court
Bill Summary
That the town of Reading be authorized to establish a means tested senior citizen property tax exemption in said town. Revenue. [Local Approval Received.]
AI Summary
This bill authorizes the town of Reading to establish a means-tested senior citizen property tax exemption. To qualify, the property must be owned and occupied by a person or joint applicants who meet certain age, income, and residency requirements. The select board will annually set the exemption amount between 100% and 150% of the state's circuit breaker income tax credit, and the total exemption amount will be allocated proportionally within the residential tax levy. The exemption will expire after 3 years, and the Department of Revenue must certify the residential tax rate to ensure the exemption amount is raised through a burden shift within the residential tax levy.
Committee Categories
Budget and Finance
Sponsors (3)
Last Action
Signed by the Governor, Chapter 412 of the Acts of 2022 (on 01/05/2023)
Official Document
bill text
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/192/H5405 |
| Bill | https://malegislature.gov/Bills/192/H5405.pdf |
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