An Act relative to senior property tax deferral
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill proposes to establish a program allowing eligible seniors to defer paying their property taxes. The deferral would accrue interest, and be repaid upon the senior’s death or permanent relocation. The program aims to provide financial relief for seniors on fixed incomes, potentially preventing foreclosures and maintaining their homes. It is intended to offer a flexible option for managing property tax obligations.
Key provisions
- Allows eligible seniors to defer property tax payments.
- Deferrals accrue interest.
- Repayment is due upon the senior’s death or permanent relocation.
- Eligibility criteria would be established.
- The program would be administered by the municipality.
- It outlines the process for applying for and managing the deferral program.
- It requires the Department of Revenue to study the program's implementation and impact.
Who is affected
- Senior citizens
- Property taxpayers
- Local municipalities
- Housing market
- Low-income seniors
Notable changes
- Creates a mechanism for deferring property taxes for eligible seniors.
- Addresses potential financial hardship for seniors on fixed incomes.
- May reduce the risk of foreclosures among senior homeowners.
Bill text
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Sponsors
Official sponsors from legislative records.
3 on record
Primary sponsor
Cosponsors
David M. Rogers
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