Massachusetts H5298 amends senior property tax credit rules, requiring agreements and annual reporting.

Massachusetts H5298 modifies the senior property tax credit rules by requiring a tax deferral and recovery agreement between property owners and local boards of assessors. It mandates annual reporting by cities and towns to the Department of Revenue, detailing the names of property owners participating in these agreements. The bill also allows the Department of Revenue to recover credits if deferred taxes are not paid.

Massachusetts H5298 amends senior property tax credit rules, requiring agreements and annual reporting.

Massachusetts H5298 modifies the senior property tax credit rules by requiring a tax deferral and recovery agreement between property owners and local boards of assessors. It mandates annual reporting by cities and towns to the Department of Revenue, detailing the names of property owners participating in these agreements. The bill also allows the Department of Revenue to recover credits if deferred taxes are not paid.