Bill > S2048

This bill proposes an optional property tax benefit for senior citizens in Massachusetts. Specifically, if a city or town chooses to accept this provision, property owners who are 65 years or older and have lived in the same city or town for at least 25 consecutive years will have their property tax frozen at the amount they were paying before turning 65, regardless of any subsequent increases in property value. This means that once a qualifying senior citizen reaches 65, their property tax assessment will remain constant, potentially providing significant financial relief for long-time residents in their retirement years. The bill allows individual cities and towns to opt into this tax reduction program, giving local governments the flexibility to decide whether to implement this senior citizen tax benefit. To take effect, the provision would need to be specifically accepted by a city or town's local government, making it an optional, locally determined tax relief measure.

Budget and Finance

https://malegislature.gov/Bills/194/S2048