An Act authorizing the town of Lunenburg to establish a means tested senior citizen property tax exemption

This bill authorizes the town of Lunenburg to create a means-tested property tax exemption specifically for senior citizens. To qualify, applicants must be at least 65 years old, have lived in the town as their primary residence for at least 15 years, and own no significant assets such as second homes or investment portfolios. The exemption amount is capped at 100 percent of the applicant's state Circuit Breaker Tax Credit from the previous year and cannot exceed one percent of the town's total real property tax levy. If the total value of all exemption requests exceeds this one percent limit, the relief for each individual applicant will be reduced proportionally. The program requires annual applications and can be revoked by a majority vote of town meeting voters at any time.