Wakefield assessors set a property tax break for some older homeowners

Wakefield's board of assessors sets an annual property tax exemption for qualifying older homeowners. The property must be the applicant's Wakefield home, meet the income and assessed-value limits tied to the prior year's state circuit-breaker credit, and be owned and occupied by the applicant. A single owner must be at least 65; joint owners must include one owner at least 65 and a joint applicant at least 60. At least one applicant must have owned a home and lived in Wakefield for 10 consecutive years. The board sets the exemption amount, capped at the applicant's prior-year state circuit-breaker tax credit. The board may deny applicants whose assets place them outside the intended group. Applicants must file each year by the board's deadline and provide income and asset documents. The board must approve each application. No exemption is granted until the state Department of Revenue certifies a residential tax rate for a year when the exemption amount is raised by shifting the burden within the residential tax levy. The exemption expires three years after it is implemented.