MA H3099

Authorizes cities and towns to adopt a local property tax exemption for senior citizens on Class One residential properties, including condominiums, applied to the taxpayer's primary residence only

Requires applicants to be age 65 or older (or joint applicants where one is 65+ and the other is at least 60), have income qualifying for the state circuit breaker tax credit, and have owned property and lived in the municipality for at least 10 consecutive years

Limits eligibility to properties with assessed values at or below either the circuit breaker credit threshold (adjusted annually by the Department of Revenue) or the municipality's average single-family home value, as chosen by the local legislative body

Sets the exemption amount between 50% and 200% of the state circuit breaker income tax credit, with the specific amount determined annually by the Board of Assessors, City Council, or Select Board

Funds the exemption by allocating costs proportionally across all residential taxpayers' tax levies or through the Assessors' Overlay account, with the method chosen at the time of municipal adoption