MA H4094

Creates a property tax exemption for seniors in Milton who own and occupy class one residential property (including condominiums) and received the state circuit breaker income tax credit the previous year

Requires property owners to be age 65+ (or joint owners where one is 65+ and others are 60+), have lived in and owned property in Milton for at least 10 consecutive years, and use the property as their primary residence

Exemption amount ranges from 50% to 100% of the applicant's prior-year circuit breaker tax credit, as determined annually by the Select Board, with property taxes reduced by no more than 50%

Total exemptions under this act cannot exceed 1% of Milton's tax levy, funded through proportional allocation across all taxpayers or appropriation from existing funds

Board of Assessors must approve applications and may deny applicants with excessive assets; applicants must reapply annually with income documentation and proof of circuit breaker credit