Bill > H3258

This bill proposes a property tax relief measure for seniors by allowing cities and towns to limit annual property tax increases to a maximum of 2.5% for homeowners who are at least 65 years old. To be eligible, seniors must have been domiciled in the Commonwealth of Massachusetts for the previous ten years and have owned and occupied the same residential property for at least five years prior to the current tax year. The bill gives local boards of selectmen or mayors the option, with approval from their local legislative body, to implement this tax assessment cap. This means that even if a property's market value increases more significantly, the property tax bill for qualifying seniors would be restricted to a modest 2.5% increase each year, providing financial stability and protection against rapid property tax escalation for elderly homeowners. The provision applies specifically to residential properties (Class One) in municipalities that are assessing property at its full and fair cash value.

Budget and Finance

https://malegislature.gov/Bills/194/H3258