Sen. Barry R. Finegold said Friday seniors looking for property tax relief could benefit from two bills passed the state Senate last Thursday.
If the bills go on to become law, they would give cities and towns the ability to more easily lower property taxes paid by seniors. This includes giving communities the option of allowing a tax exemption for those above age 65 and reducing the number of years to become eligible for tax deferral.
“Senior citizens will always be valued members of our communities and these measures will provide important financial relief,” Finegold said in a statement. The release added, “Together, these measures represent an important step toward ensuring that Massachusetts seniors can age in place with financial security.”
One bill would allow cities and towns to set exemption amounts to provide relief to long-term residents age 65 or older who meet occupancy, residency and financial criteria. The cost would be distributed across the residential tax base.
The other bill drops what is currently a 10-year period to become eligible for the Senior Tax Deferral program. It also delays an increase in the interest rate for deferred taxes until one year after a taxpayer’s death and delays the date on which a foreclosure petition may be filed until 18 months after the taxpayer’s death.
Bills now move on to the House for consideration.