Bill > H4560

This bill authorizes the town of Andover to establish a means-tested senior citizen property tax exemption. To qualify, the property must be owned and occupied by a person who received the "circuit breaker" income tax credit the previous year, be owned by a single applicant age 65 or older or jointly by persons where at least one is 65 or older, and have a maximum prior year assessed value that does not exceed the threshold for the circuit breaker credit. The board of selectmen will annually set the exemption amount, up to 100% of the circuit breaker credit amount. The exemption will be allocated proportionally within the residential tax levy. Applicants must file annually, and the exemption cannot be implemented until the Department of Revenue certifies a residential tax rate where the total exemption amount is raised by a burden shift within the residential tax levy. The act will expire after 3 years of implementation.

Budget and Finance

https://malegislature.gov/Bills/190/H4560