An Act relative to senior property tax deferral

This bill updates Massachusetts law to allow homeowners aged 65 or older to defer paying property taxes if their income is low enough. To qualify, seniors must own their home as their primary residence and have gross receipts that do not exceed the income threshold for a single filer or a married couple. The key mechanism requires these homeowners to sign a formal agreement with the local board of assessors, which allows them to postpone tax payments in exchange for paying the deferred amount plus interest before selling the property or upon the owner's death. The agreement includes specific rules, such as limiting deferred taxes to 50% of the property's value and ensuring that heirs or a surviving spouse must pay the accumulated taxes and interest to keep the home. Additionally, the bill mandates that the board of assessors notify enrolled property owners of application deadlines and requires written approval from any joint owners or mortgage holders before the deferral agreement is finalized.