Milton would offer property tax relief to eligible older homeowners

Milton would offer eligible older homeowners a property tax break. The relief would cover qualifying residential properties, including condos, and would add to other allowed exemptions. The select board would set relief at 50% to 100% of the applicant’s prior-year circuit breaker income tax credit, capped at half the property tax bill. Milton would cover the relief by spreading it across taxpayers, setting aside town money, transferring existing funds, or combining these methods. Total relief could not exceed 1% of the town’s total property tax levy. No exemption could be granted until the state revenue department certifies the applicable year’s tax rate with the relief funded.

Homeowners would apply each year and meet all eligibility rules to receive relief. Applicants must own and live in the home as their main residence and have received the state income tax credit called the circuit breaker in the previous calendar year. A sole owner must be at least 65; joint owners must include someone at least 65, with every other owner at least 60. At least one applicant must have lived in Milton and owned a home there for at least 10 consecutive years before applying. The home’s assessed value could not exceed the prior fiscal year’s circuit breaker limit, adjusted annually by the state. Town assessors must approve the application and could deny it for excessive assets. Ages would be measured on December 31 of the previous calendar year. Annual applications must meet the town’s deadline and include income, asset, and tax-return records.