Bill > S1953

This bill modifies the definition of "Real estate tax payment" in Massachusetts tax law to expand the types of expenses that can be included when calculating tax credits for homeowners. Specifically, the bill allows homeowners to include 50% of their water and sewer charges in communities that do not already assess water and sewer debt service charges, and 50% of their homeowner's insurance costs when calculating their real estate tax payment for tax credit purposes. For multi-unit dwelling owners, the bill provides that the real estate tax payment will include the proportional share of taxes, water and sewer charges, and insurance costs for their specific unit, with the specific calculation procedures to be established by the tax commissioner. This change aims to provide additional tax relief to older adult homeowners by expanding the expenses that can be counted towards their real estate tax payment, potentially reducing their overall tax burden and helping to address the rising costs of home ownership.

Budget and Finance

https://malegislature.gov/Bills/194/S1953