An Act authorizing the establishment of a mean tested senior citizen property tax exemption

This bill authorizes local towns in Massachusetts to create a property tax exemption specifically for senior citizens. To qualify, an applicant must be at least 65 years old, have lived in the home for at least 10 years, and have previously received the state's senior circuit breaker income tax credit. The amount of the tax break would be determined annually by local assessors and would range from half to twice the value of the senior circuit breaker credit the person received. Local officials would review applications based on income and assets, and the total cost of these exemptions would be funded by adjusting the overall residential tax levy.