MA H3167

Increases the residential property tax exemption cap from 35% to 50% of average assessed value under Section 5C of Chapter 59

Doubles the senior property tax exemption amount from $4,000 to $8,000 and increases the additional exemption from $500 to $1,000

Raises income eligibility limits for senior exemptions from $6,000 to $60,000 for single filers and from $7,000 to $90,000 for married couples

Increases asset limits for senior exemption eligibility from $17,000 to $75,000 for single filers and from $20,000 to $100,000 for married couples

Doubles percentage thresholds in related exemption provisions from 5% to 10% and from 20% to 40%