Politics & Government

Selectmen to Discuss New Tax Policy

If tax relief is granted, by law the amount of the relief would be shared only by the rest of the residential class of taxpayers.

The Reading Board of Selectmen announced that they will discuss important tax policy for senior citizens, local businesses and residential tax rates on Tuesday, August 9th.

They posted the following on the Town’s website:

Recent discussions in the community regarding a Proposition 2.5 override vote for Fiscal Year 2018 has prompted the Board of Selectmen to look at certain aspects of tax policy before voting to call for a special election. The Selectmen will be discussing offering $1 million (or more) of tax relief to seniors that own property in town and have limited income.

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Tax relief would be in the form of a Home Rule Petition, which would need to receive approval from Town Meeting, Reading voters, and the Commonwealth. If tax relief is granted, by law the amount of the relief would be shared only by the rest of the residential class of taxpayers.

On August 9th the Selectmen will discuss whether the commercial taxpayers should share in senior tax relief, which would be accomplished by changing the Tax Classification factor.
While a formal Classification Hearing cannot be held until later in the fall when tax rates are certified, the Board is expected to indicate what their future tax policy will be.

Find out what's happening in Readingfor free with the latest updates from Patch.

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