An Act creating a local option property tax cap for low-income seniors

This bill allows Massachusetts cities and towns to voluntarily implement a property tax cap specifically for homeowners aged 65 and older. To qualify for this benefit, seniors must have an annual income of $50,000 or less if single, $60,000 or less if married, and hold assets of $75,000 or less, excluding their primary home and one car. Participating municipalities would recalculate taxes annually to ensure the homeowner pays the lower amount between their current tax bill and the calculated cap. The legislation does not mandate any town to adopt this program, leaving the decision entirely up to local communities.