Massachusetts H3258 caps senior property tax increases at 2.5% annually.

Massachusetts H3258 proposes to amend Chapter 59 of the General Laws by inserting a new section that caps the annual increase in property tax for seniors at 2.5%. This cap applies to residential property classified as Class One, in cities or towns that assess all property at its full and fair cash valuation. To qualify, the senior must have been domiciled in the commonwealth for ten years and must have owned and occupied the property for five years prior to the current tax assessment. The cap includes any special local tax overrides or increases for the fiscal year.

Massachusetts H3258 caps senior property tax increases at 2.5% annually.

Massachusetts H3258 proposes to amend Chapter 59 of the General Laws by inserting a new section that caps the annual increase in property tax for seniors at 2.5%. This cap applies to residential property classified as Class One, in cities or towns that assess all property at its full and fair cash valuation. To qualify, the senior must have been domiciled in the commonwealth for ten years and must have owned and occupied the property for five years prior to the current tax assessment. The cap includes any special local tax overrides or increases for the fiscal year.