An Act establishing a senior property tax deferral pilot program

This bill establishes a pilot program in Massachusetts that allows homeowners aged 65 and older to defer paying their property taxes until they sell their home or pass away. The program targets approximately 2,000 participants across a representative sample of municipalities, ensuring the demographic and income levels of those involved mirror the state's broader homeowner population. To enroll, seniors must opt in annually and sign an agreement stating that any deferred taxes, plus interest calculated to cover program costs, will be paid from the proceeds of a future home sale or inheritance. The legislation allocates specific funding amounts from 2023 through 2033 to support the administrative costs of this initiative.