Bill > S1453

This bill allows cities and towns to establish a property tax freeze program for eligible senior citizens, defined as individuals aged 65 and over who have owned their principal residence in that municipality for at least 15 years and occupy it as their primary home. To qualify, residents must apply annually and meet these criteria, meaning their property tax amount will remain the same each year they are eligible, regardless of potential increases in property value or tax rates. However, any additions or improvements to the residence will be taxed at the rate in effect at the time of their assessment and added to the frozen tax amount. The Department of Revenue will provide a standard application form, and local tax collectors will verify eligibility. Importantly, this program does not prevent eligible seniors from receiving other available tax relief, such as tax credits or abatements.