Bill > H4214

This bill provides limited property tax relief for certain elder citizens in the town of Andover by establishing an exemption for the first $100,000 of a home's assessed taxable value, in addition to any other exemptions already allowed. To qualify, the property must be residential, owned by someone 70 years or older who has been a resident of Andover for over 6 months in each of the last 20 years, and their total income must not exceed $71,000 for a single person or head of household, or $85,000 for a married couple filing jointly, with the property's assessed value not exceeding $600,000. The bill also outlines specific conditions for joint ownership, rental situations, and life estates, and clarifies how improvements to a property will be taxed. Those seeking this exemption must file an application for abatement with the board of assessors by January 31st each year. This act does not apply to betterments, which are assessments for public improvements. The bill will only take effect if approved by a majority of Andover voters at a town election, and its acceptance will automatically expire after five years unless reaffirmed by voters. The town also has the option to revoke acceptance of the act or for the board of selectmen to suspend its implementation after public hearing.