Bill > H2809

This bill establishes a means-tested senior citizen property tax exemption in any city or town that accepts its provisions. The exemption reduces the property tax by an amount equal to 10% of the applicant's income, minus any circuit breaker income tax credit the applicant received the prior year, up to a maximum of 50% of the property tax. To qualify, the applicant must be 65 or older, have an income below a certain limit, have lived in the city or town for at least 10 years, and own and occupy the property as their primary residence. The total exemption amount is capped at 0.5% to 1% of the residential property tax levy, and if the cap is exceeded, the benefit is allocated by raising the income percentage. The exemption must be re-accepted by the city or town every three years.