Gov. Baker Signs Reading Senior Tax Exemption Bill

READING, MA — Gov. Charlie Baker has signed legislation to extend Reading's senior property tax exemption program another three years. The bill, filed on behalf of the town by House Minority Leader Bradley H. Jones, Jr., of North Reading, Rep. Richard M. Haggerty, of Woburn, and Sen. Jason M. Lewis, of Winchester, was signed into law March 25.

"Reading's program has been highly effective in providing real tax relief to hundreds of local homeowners, so this is tremendous news," Rep. Jones said in a statement. "Governor Baker understands how important it is to keep housing affordable for seniors, and I appreciate him taking quick action to ensure that Reading can continue to offer this important program."

Reading launched its senior property tax exemption program in July 2017, with a three-year sunset provision. Since the program started, 540 applications have been approved, with an average of 180 applicants receiving a total tax break of $4,900, or just over $1,600 annually.

Under the program, qualifying Reading homeowners who are 65 and older can receive a tax exemption equal to 150 percent of the state's Senior Circuit Breaker tax credit. Individuals and couples must apply annually to receive the tax exemption, and all applications are subject to approval by the Reading Board of Assessors.

- The property on which the exemption is claimed must be owned and occupied by a person whose prior year’s income makes them eligible for the Senior Circuit Breaker income tax credit

- Applicants must be 65 or older at the close of the previous year, but if filing jointly, at least one applicant must be 65 or older and the other applicant must be at least 60 years old

- At least one of the applicants must show they have been domiciled and owned a home in Reading for at least 10 consecutive years

- The maximum assessed value of the property cannot exceed the prior year’s maximum assessed value allowed to qualify for the Senior Circuit Breaker