Linda, a 68-year-old widow living on a fixed income, owns and occupies her home in Newton as her primary residence. She has lived there for 12 years. Under Massachusetts law, which property tax relief program is she most likely eligible for that would reduce her assessed property tax obligation?
Correct Answer
B) Clause 41A Tax Deferral Program
MGL Chapter 59, Clause 41A (the Tax Deferral and Recovery Program) allows qualifying elderly homeowners — generally age 65 or older who meet income and ownership requirements — to defer payment of a portion of their property taxes until the property is sold or transferred. This program is specifically designed for elderly, low-to-moderate income homeowners who occupy their primary residence. Linda meets the age and occupancy criteria, making this the most applicable program.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Many states have laws to limit how much property taxes can increase each year, regardless of market value fluctuations.
Various programs and exemptions exist to reduce the property tax burden for specific groups, such as seniors, homesteaders, or veterans.
A transfer tax is a tax imposed on the transfer of ownership of real estate.
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