Massachusetts H4605 authorizes the town of Millis to create a means-tested property tax exemption for seniors on school building construction.

Massachusetts H4605 authorizes the town of Millis to establish a means-tested property tax exemption for school building construction projects. The exemption applies to seniors who meet specific income and asset criteria, including owning and occupying the property as their domicile. The exemption amount is set annually by the Board of Assessors and is limited to the actual cost of borrowing for the project. The exemption is in addition to any other allowed under state law. The Board of Assessors can deny an application if the applicant has excessive assets.

Massachusetts H4605 authorizes the town of Millis to create a means-tested property tax exemption for seniors on school building construction.

Massachusetts H4605 authorizes the town of Millis to establish a means-tested property tax exemption for school building construction projects. The exemption applies to seniors who meet specific income and asset criteria, including owning and occupying the property as their domicile. The exemption amount is set annually by the Board of Assessors and is limited to the actual cost of borrowing for the project. The exemption is in addition to any other allowed under state law. The Board of Assessors can deny an application if the applicant has excessive assets.