Bill > H3167

This bill proposes several significant changes to tax exemptions for residential and senior property owners in Massachusetts, specifically modifying Chapter 59 of the General Laws. The bill increases the residential tax exemption percentage from 35% to 50% and substantially raises income thresholds and exemption amounts for seniors. Key changes include increasing the exemption amount from $4,000 to $8,000, raising the income threshold for single seniors from $6,000 to $60,000, and for married seniors from $7,000 to $90,000. Additionally, the bill increases the maximum property value for exemption from $17,000 to $75,000 for single seniors and from $20,000 to $100,000 for married seniors. The bill also doubles the percentage of exemption from 5% to 10% for certain seniors and increases another exemption percentage from 20% to 40%. These modifications aim to provide more substantial tax relief for senior citizens, potentially helping them manage housing costs more effectively by reducing their property tax burden.

Budget and Finance

https://malegislature.gov/Bills/194/H3167