Authorizes Reading, Massachusetts, to establish a means-tested property tax exemption for senior citizens.
This bill allows the town of Reading to create a property tax exemption for senior citizens, subject to income and asset limits. The exemption amount is set annually by the select board and is based on the circuit breaker income tax credit. To qualify, applicants must meet specific criteria, including age and residency requirements. The exemption is in addition to any other allowed by state law. The act expires three years after implementation.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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