An Act relative to the valuation of long term residences

This bill freezes the property tax assessment for long-term homeowners who have lived in their primary residence for 30 years, provided they meet income and asset limits. It directly affects qualifying homeowners in cities or towns that adopt the law, requiring their income not exceed 100% of the area median income (per HUD) and their liquid assets (excluding home value) to stay under $100,000. Once applied, the assessed valuation remains locked at the 30th-year level and cannot increase unless the property is sold or transferred. This creates a permanent tax break for eligible seniors or long-term residents who maintain their homes without selling.