Massachusetts H5526 authorizes Holliston to create a means-tested property tax exemption for seniors on debt exclusion construction projects.

Massachusetts H5526 allows the town of Holliston to establish a means-tested property tax exemption for seniors on debt exclusion construction projects. The exemption applies to residential property owned and occupied by seniors who meet income and asset criteria. The exemption amount is set annually by the Select Board and is subject to a cap based on the circuit breaker income tax credit. The exemption is in addition to other allowed exemptions and expires after three years, with the possibility of reauthorization.

Massachusetts H5526 authorizes Holliston to create a means-tested property tax exemption for seniors on debt exclusion construction projects.

Massachusetts H5526 allows the town of Holliston to establish a means-tested property tax exemption for seniors on debt exclusion construction projects. The exemption applies to residential property owned and occupied by seniors who meet income and asset criteria. The exemption amount is set annually by the Select Board and is subject to a cap based on the circuit breaker income tax credit. The exemption is in addition to other allowed exemptions and expires after three years, with the possibility of reauthorization.