Millis amendment would let assessors ease some seniors' school tax increases

Millis assessors may grant a property tax exemption for qualifying school construction borrowing. The home must be in Millis and serve as the applicant's main home. Applicants must meet the income and assessed-value limits for the state circuit breaker tax credit. A single applicant must be at least 65; joint owners must meet the age rules in the amendment. At least one applicant must have owned a home and lived in Millis for 10 straight years before applying. Applicants must apply each year by the assessors' deadline and provide income and asset documents. Applicants must meet the income, age, home value, ownership, and residency rules, and the assessors must approve the application. Assessors may deny an application if an applicant's assets put them outside the intended recipients, using limits tied to state affordable housing eligibility for people age 55 or older. The exemption cannot exceed the applicant's tax increase directly caused by the borrowing; assessors set its amount each year. The Department of Revenue must certify the residential tax rate before any exemption is granted, and other residential taxpayers share the exempted amount through the tax levy. The exemption applies to borrowing undertaken after the act takes effect and may be granted until Millis retires that borrowing's full debt, including interest. The act would take effect upon passage.