Bill > S1853

This bill establishes a special commission to determine the feasibility of creating a state property tax deferral program for individuals aged 65 and older. The commission will evaluate a 3-year pilot program in a designated area with 10,000 eligible households, which would allow eligible homeowners to defer property tax payments until the deferred amount, interest, and outstanding mortgage reach 60% of the property's assessed value. The program would be administered by the Massachusetts Department of Revenue, with the state sending the deferred taxes to the local municipalities and retaining a lien on the property. The commission will review the pilot program's experiences and policy efforts in other states, and provide recommendations and draft legislation by December 31, 2024.