Bill > S1931

This bill increases the valuation limit for the senior circuit breaker tax credit from $600,000 to $1,800,000. The senior circuit breaker is a tax credit designed to help senior homeowners whose property taxes and water/sewer charges are high relative to their income. The bill specifically amends Section 6 of Chapter 62 of the Massachusetts General Laws by replacing the existing property valuation threshold of $600,000 with $1,800,000. Additionally, the bill includes a provision that specifies this new valuation limit will take effect for taxable years beginning on or after January 1, 2027. By raising the valuation limit, the bill aims to provide tax relief to a broader range of senior homeowners by allowing those with higher-valued properties to qualify for the circuit breaker tax credit.

Budget and Finance

https://malegislature.gov/Bills/194/S1931