MA H4605

Authorizes the Town of Millis to exempt qualifying senior citizens from property taxes attributable to school building construction project borrowing costs (principal and interest), with the exemption amount set annually by the Board of Assessors

Eligibility requires homeowners to be age 65+ (or 60+ for joint applicants), have income qualifying for the state circuit breaker tax credit, and have owned and lived in Millis for at least 10 consecutive years

Property must be the applicant's primary residence, classified as residential, and have an assessed value within circuit breaker limits; applicants with excessive assets may be denied based on affordable housing eligibility standards for those 55+

Exempted tax amounts are shifted proportionately to all other residential taxpayers in Millis rather than reducing overall town revenue

Requires annual application with income and asset documentation, and exemptions cannot be granted until the Department of Revenue certifies the residential tax rate with the burden shift