Establishes a local option property tax cap for low-income seniors in Massachusetts.

The bill proposes to amend Chapter 59 of the General Laws by adding a new section allowing cities and towns to implement a property tax cap for homeowners aged 65 and older. To qualify, seniors must meet income and asset requirements, including an adjusted gross income of $50,000 or less if single, $60,000 or less if married, and assets of $75,000 or less excluding the primary residence and one motor vehicle. This cap aims to provide financial relief to eligible low-income seniors.

Establishes a local option property tax cap for low-income seniors in Massachusetts.

The bill proposes to amend Chapter 59 of the General Laws by adding a new section allowing cities and towns to implement a property tax cap for homeowners aged 65 and older. To qualify, seniors must meet income and asset requirements, including an adjusted gross income of $50,000 or less if single, $60,000 or less if married, and assets of $75,000 or less excluding the primary residence and one motor vehicle. This cap aims to provide financial relief to eligible low-income seniors.