Bill > H2456

This bill proposes to amend existing Massachusetts General Laws concerning property taxes for seniors. Specifically, it introduces a new section that, if accepted by a city or town, would allow individuals aged 70 or older who own and occupy a residential property for at least 180 days in the preceding calendar year to have their property tax liability capped at 10% of their total annual household income, or the amount they would otherwise owe, whichever is less. "Total annual household income" is defined as the combined gross income of all residents aged 21 and older who meet the 180-day residency requirement. To benefit from this provision, eligible taxpayers must file an annual application for property tax exemption with their local assessors by a date they determine.