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Committee hears bill allowing towns to offer local education tax exemption for long-term elderly residents
Summary
House Bill 766 would let municipalities adopt an exemption from the local education property tax for residents age 70 or older who have lived in their home at least 30 years and meet an asset test; sponsors said it would help seniors remain in place while opponents and assessors warned of uncertain fiscal impacts and enforcement challenges.
The committee heard House Bill 766 on Feb. 4, a measure that would permit cities and towns to exempt qualifying elderly residents from the local education portion of property taxes. Representative John McMahon, the bill’s prime sponsor, said the goal is to allow "aggressively mature" residents to stay in their homes by reducing their school tax obligation.
Representative McMahon told the committee HB 766 would be an optional municipal tool aimed at residents 70 and older who have lived in their residence for 30 years and hold no more than $750,000 in assets. "This is to give the…
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