|
|
|
|||||
| Finance Department, Assessors TAXPAYER'S GUIDE TO REAL ESTATE TAX EXEMPTIONS IN BROOKLINE, MASSACHUSETTS CLAUSE 41C: ELDERLY PERSONS (70 years of age or older) INTRODUCTION Clause 41C of Section 5 of Chapter 59 provides an exemption to persons 70 years of age or older who satisfy certain whole estate or asset, annual income and residency requirements. Persons 70 or older may, alternatively, qualify for an exemption under Clause 17D which provides reduced benefits but for which the eligibility requirements are less strict. EXEMPTION AMOUNT The exemption amount for Clause 41C is $500. APPLICATIONS Applications (which you can download) must be filed annually with the Assessors within 3 months of the mailing date of the third quarter. Filing an application does not entitle one to a delay in tax payment. DOCUMENTATION An applicant for an exemption must provide to the assessors whatever information is reasonably required to establish eligibility. This information may include, but not be limited to: 1. Birth certificates 2. Evidence of domicile and occupancy 3. Income tax returns ELIGIBILITY REQUIREMENTS For eligibility, an individual must satisfy requirements relating to (1) age (2) ownership and domicile (3) annual income and (4) whole estate or assets.  NUMBER OF EXEMPTIONS Not more than one exemption may be granted under Clause 41C on the same parcel of real estate. AGE An individual must be: (a) 70 years or older or (b) joint owner with a spouse 70 years or older as of July 1 of the tax year. OWNERSHIP AND DOMICILE Under Clause 41C, an individual must own and occupy the subject property on July 1 of the tax year. Under Clause 41C, in addition to so owning and occupying the subject property, an individual must have been continuously domiciled in Massachusetts for the 10 years preceding the application and have owned and occupied the property or other property in Massachusetts for 5 years. 1. To satisfy the ownership requirement, a person's interest in the domicile must be worth at least $4,000. A person may own his/her interest solely, as a joint owner or as a tenant in common with someone other than a spouse, and you may apply for your portion of the personal exemption. However, each joint owner must meet the above financial requirements. Residential properties containing four or more units or commercial units will have a portion of the value of these units included in the whole estate calculation. 2.The holder of a life estate satisfies the ownership requirement. 3.If the domicile is held in a trust, a person can only satisfy the ownership interest if he/she: a) Is a trustee or co-trustee of that trust, and b) Possesses a sufficient beneficial interest in the domicile through that trust. (Splitting the interest between multiple trusts does not qualify.) ANNUAL INCOME AND WHOLE ESTATE Gross receipts minus social security allowance must be less than: * $13,000 if single * $15,000 if married Whole estate less the value of the home except for the value of any portion that exceeds three dwelling units and produces income cannot exceed: * $28,000 if single * $30,000 if married The value of a person's (a) cemetery plots, (b) registered motor vehicles, (c) wearing apparel and (d) household furniture and effects kept at the domicile should be excluded from the calculation of the person's whole estate for purposes of these clauses.
|
||||||
|
|
||||||
