An Act relative to senior property tax deferral

This bill establishes a new $450 million revolving fund to help Massachusetts cities and towns offer loans to seniors who wish to defer paying their property taxes. The program allows homeowners aged 65 or older, including surviving spouses, to delay tax payments on their primary residences if they have lived there for at least five years. To qualify, eligible residents must sign an agreement stating they will repay the deferred taxes plus interest if they sell the home, transfer ownership, or pass away. The legislation also requires local assessors to include a check-box on tax bills for seniors to opt into the deferral and mandates annual reporting on how the fund is used.