Bill > S1666

This bill aims to reduce the tax burden on seniors in Massachusetts. It allows cities and towns to enter into tax deferral plans with the Commonwealth, where the Commonwealth pays the amount of the exemption granted under the tax deferral and recovery agreement, with 5% annual interest. Upon the owner's or surviving spouse's death, the deferred taxes and interest would be paid back to the Commonwealth. Additionally, the bill requires cities and towns to annually reduce the property tax on real property of persons who have reached the age of 70 and have lived in the municipality for at least 30 years, if they occupy the property as their domicile. The bill also establishes a security interest on taxable personal property, allowing the municipal collector to file a financing statement to perfect the interest and collect unpaid taxes.

Budget and Finance

https://malegislature.gov/Bills/190/S1666