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

This bill allows the town of Wakefield to establish a property tax exemption for senior citizens who meet certain income and asset criteria. The exemption amount is set annually by the board of assessors and can be up to 100% of the circuit breaker income tax credit. To qualify, seniors must own and occupy their property as their domicile, meet income limits, and have owned and lived in Wakefield for at least 10 years. The exemption expires three years after implementation.

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

This bill allows the town of Wakefield to establish a property tax exemption for senior citizens who meet certain income and asset criteria. The exemption amount is set annually by the board of assessors and can be up to 100% of the circuit breaker income tax credit. To qualify, seniors must own and occupy their property as their domicile, meet income limits, and have owned and lived in Wakefield for at least 10 years. The exemption expires three years after implementation.