Bill > H3979

This bill authorizes the City of Melrose to establish a property tax exemption specifically designed for senior citizens with limited income. The exemption applies to residential properties (class one) owned and occupied by seniors who meet several specific criteria: the property owner must be 65 years or older (or have a joint owner who is at least 60), they must have lived and owned a home in Melrose for at least 10 consecutive years, and their income must qualify them for the state's "circuit breaker" income tax credit (a tax relief program for low-income residents). The tax exemption will be equal to 100% of the circuit breaker income tax credit the applicant received in the previous year. To receive the exemption, seniors must apply annually with the city's board of assessors, providing documentation of their income and assets. The board can deny applications for individuals with excessive assets. The total exemption amount will be proportionally distributed across all residential taxpayers, and the exemption will only take effect after the Department of Revenue certifies a residential tax rate that accommodates this shift. The bill is temporary, set to be repealed after three years of implementation, and will replace a previous local act from 2022.

Budget and Finance

https://malegislature.gov/Bills/194/H3979