An Act relative to senior property tax deferral

This bill establishes a senior property tax deferral program in Massachusetts, allowing residents aged 65+ who have owned and lived in their home for 5 years to defer property taxes. The state allocates $450 million to a revolving fund to reimburse cities and towns for deferred taxes, which must be repaid when the property is sold, transferred, or upon the owner’s death (with surviving spouses receiving temporary relief). Eligible homeowners must sign a repayment agreement, and municipalities must verify eligibility via property tax bills. The program replaces prior rules with specific repayment terms and requires annual reporting on fund usage.