Authorizes Wakefield to create a means-tested property tax exemption for seniors.

This bill allows the town of Wakefield to establish a property tax exemption for seniors who meet certain criteria. To qualify, the property must be owned and occupied by a person or joint applicants who meet age and income requirements, and the assessed value must not exceed the prior year's maximum for the circuit breaker income tax credit. The exemption amount is set annually by the board of assessors and must be between 100% and 150% of the circuit breaker credit. The exemption expires after three years if not implemented.

Authorizes Wakefield to create a means-tested property tax exemption for seniors.

This bill allows the town of Wakefield to establish a property tax exemption for seniors who meet certain criteria. To qualify, the property must be owned and occupied by a person or joint applicants who meet age and income requirements, and the assessed value must not exceed the prior year's maximum for the circuit breaker income tax credit. The exemption amount is set annually by the board of assessors and must be between 100% and 150% of the circuit breaker credit. The exemption expires after three years if not implemented.