AN ACT AUTHORIZING THE TOWN OF HOPKINTON TO ESTABLISH A MEANS-TESTED SENIOR CITIZEN PROPERTY TAX EXEMPTION FOR SCHOOL BUILDING CONSTRUCTION PROJECTS
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
SECTION 1. With respect to each qualifying parcel of real property classified as Class One, residential in the town of Hopkinton, there shall be an exemption from the property tax to be set annually by the board of assessors in an amount equal to or less than the amount that an applicant’s total annual property tax increases as directly caused by the town of Hopkinton borrowing, including principal and interest, in any fiscal year, for certain school building construction projects; provided, however, that the exemption shall be applied to the domicile of the applicant only. For the purposes of this act, "parcel" shall mean a unit of real property as defined by the board of assessors under the deed for the property and shall include a condominium unit. The exemption provided for in this section shall be in addition to any other exemptions allowed under the General Laws.
SECTION 2. The board of assessors of the town of Hopkinton may deny an application if the board finds that the applicant has excessive assets that place the applicant outside of the intended recipients of the exemption established pursuant to this act. Real property shall qualify for an exemption under this act if:
(i) the qualifying real property is owned and occupied by a person whose prior year's income would make the person eligible for the circuit breaker income tax credit under subsection (k) of section 6 of chapter 62 of the General Laws;
(ii) the qualifying real property is owned by a single applicant who was 65 years of age or older at the close of the previous year or jointly by persons either of whom is 65 years of age or older at the close of the previous year if the joint applicant is 60 years of age or older at the close of the previous year;
(iii) the qualifying real property is owned and occupied by the applicant or joint applicants as their domicile;
(iv) the applicant or at least 1 of the joint applicants has been domiciled and owned a home in the town of Hopkinton for not less than 10 consecutive years before filing an application for the exemption;
(v) the maximum assessed value of the domicile is not greater than the prior year's maximum assessed value for qualification for the circuit breaker income tax credit under said subsection (k) of said section 6 of said chapter 62 as adjusted annually by the department of revenue; and
(vi) the board of assessors has approved the application for the exemption.
SECTION 3. The total amount exempted pursuant to this act shall be allocated proportionally within the tax levy on all residential taxpayers.
SECTION 4. A person who seeks to qualify for the exemption under this act shall, before the deadline established by the board of assessors, file an application on a form adopted by the board of assessors with supporting documentation of the applicant's income and assets as described in the application. The application shall be filed each year for which the applicant seeks the exemption.
SECTION 5. No exemption shall be granted pursuant to this act until the department of revenue certifies a residential tax rate for the applicable tax year where the total exemption amount is raised by a burden shift within the residential tax levy.
SECTION 6. The board of assessors may grant exemptions pursuant to this act until the town of Hopkinton has retired the full debt encumbered by any borrowing, including principal and interest, in any fiscal year, for certain school building construction projects as provided under section 1.
SECTION 7. This act shall take effect upon its passage.
Approved, January 6, 2025.