An Act relative to property tax exemptions for the increased value of a home as a result of certain alterations and improvements to the home

HD 1225 creates a property tax exemption for homeowners who make specific alterations to provide housing for elderly (60+ years) or disabled individuals. The exemption covers up to $500 in annual property taxes on the increased home value from these improvements, but only if the home has no more than three units before the changes and is owner-occupied. Homeowners must annually certify the housing is provided to an eligible person and provide proof to the local tax office. This exemption ends if the housing is no longer occupied by an elderly or disabled person and applies only to improvements made after a city or town adopts the provision.