Bill > H3199

This bill authorizes the Town of Andover to provide property tax relief for certain elderly citizens by allowing them to maintain their residential property tax rate at the same level as the prior fiscal year, provided they are 70 years of age or older, occupy the property as their domicile, have been residents for over 6 months of each of the previous 20 years, and the property is a single-family dwelling. This tax rate freeze will continue until the property is sold or transferred, and it exempts qualifying individuals from certain tax liability changes. However, if improvements are made to the property that increase its assessed value and tax liability, the individual will be responsible for paying the additional tax on the improvements. The bill also limits the percentage by which Andover can increase property tax rates annually to no more than the percentage of any social security cost-of-living adjustment for that fiscal year, and it excludes betterments assessed under specific chapters of the General Laws.