Clause 41A
Reqirements:
Occupy property, and |
be 65 years of age or older; |
be joint owner of property with spouse, either of whom is 65 years or older: OR |
is 65 years of age or older and owns jointly or as a tenant in common with a person who is not his/her spouse. |
Resided in Massachusetts for preceding 10 years, and |
owned and occupied property in Massachusetts for 5 years, OR |
is a surviving spouse who inherited the property and occupied the property in Massachusetts for 5 years, and otherwise qualifies. |
Documents Required:
A Birth Certificate is necessary to prove age of applicant (Other acceptable forms of identification will be reviewed for acceptability.)
Evidence of income (i.e. state and federal income tax returns).
Financial Requirements:
Gross income cannot exceed $40,000 per year
Ordinary business expenses and losses may be deducted, BUT NOT personal and family expenses.
Special Notes for Clause 41A Applicants:
A property owner may receive a CLAUSE EXEMPTION AND also apply for TAX DEFERRAL on all or a portion of the balance of taxes owed.
All taxes, including accrued interest must be paid in full when property is:
sold,
transferred,
upon demise of owner.
Taxes may be deferred annually in whole or in part
Interest is accrued annually at 2.25%.
Net total amount of deferred taxes, including interest, cannot exceed 50% of the total assessed value of the property. If the total assessed value increases in a future tax year, the amount, which may be deferred, will also increase proportionately.
EXAMPLE: If property is assessed at $100,000 the total deferred taxes and interest CANNOT exceed $50,000.
Applicant may defer only that percentage of taxes equal to the percentage of ownership
A Tax Deferral and Recovery Agreement (Form 97EA-2) will be executed by the taxpayer with the Assessing Department upon approval of the application and filed at the Plymouth County Registry of Deeds. The agreement requires that all owners/mortgagees give written approval prior to the Town entering into the agreement.
A Tax Deferral Constitutes a Lien on Applicant's Property.
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