An Act authorizing the town of Reading to establish a means tested senior citizen property tax exemption

HD 5630 would allow the town of Reading to create a property tax exemption for seniors meeting specific income, age, and residency requirements. It directly affects seniors aged 65+ (or 60+ with a 65+ partner) who own and live in their Reading home for 10+ years, have income qualifying for the state's circuit breaker tax credit, and limited assets. The exemption amount would be set annually by Reading's select board at 100-150% of the qualifying circuit breaker credit, applied only to the primary residence. Applicants must reapply yearly with income and asset documentation, and the exemption expires after three years. The town would fund this through proportional adjustments to the residential tax levy.