Millis could lower property taxes for eligible older homeowners

Millis could grant a yearly property tax exemption tied to borrowing costs for a specific school construction project. The home must be a residential property in Millis, including a condominium, and serve as the applicant's home. A single owner must be at least 65. Joint owners must include one person at least 65 and another at least 60. At least one applicant must have owned a home and lived in Millis for 10 straight years before applying. Income and home value must meet the stated circuit breaker credit limits. The Board of Assessors must approve each application and may deny it if the applicant has excessive assets under the stated affordable housing limits. Applicants must apply each year by the Board's deadline and provide income and asset documents. The Department of Revenue must certify a residential tax rate for the year before an exemption can be granted. The borrowing must be undertaken after the act takes effect. The Assessors set the exemption each year, and applicants must reapply for each year they seek it.

The town would spread the total amount exempted across the tax levy paid by other taxpayers. This applies to the total amount exempted under the act.