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Community Corner

Senior Circuit Breaker Tax Credit Seminar

Senator Ross, Representative Conroy and Representative
Peisch Announce Wayland Senior Circuit Breaker Tax Credit Seminar



 



Boston
Senator Richard Ross (R-Wrentham),
Representative Thomas P. Conroy (D-Wayland), and Representative Alice H. Peisch
(D-Wellesley) are pleased to announce that an informational seminar on the
Senior Circuit Breaker Tax Credit will be held at the Wayland Senior Center on
February 28, 2014 at 1:30pm. They will be joined by Brian Lynch of the
Massachusetts Department of Revenue.

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“The Senior Circuit Breaker Tax
Credit provides much-needed relief to Massachusetts seniors,” said Senator
Ross. “I encourage all interested constituents to attend this seminar and learn
more about how they can benefit from this fundamental program.”

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“Seniors in Wayland can take
advantage of multiple avenues for property tax relief, and the February 28th
meeting is an excellent opportunity for seniors to expand their knowledge about
the different state and local relief programs for which they may be eligible,”
said Representative Conroy.



 



“The Senior Circuit Breaker Tax
Credit has proved to be a valuable option that allows many seniors to stay in
their homes. I have been surprised at the number of eligible taxpayers who are
unfamiliar with the program and therefore encourage any interested residents to
attend,” said Representative Peisch.



 



The Senior Circuit Breaker is a tax
credit for senior citizens whose property payments account for more than 10% of
their annual income. Eligible seniors will receive a dollar credit on their
Massachusetts tax return for every dollar that their total property tax, water
and sewer bills exceed 10% of their income. A maximum of $1030 credit is
available. Additionally, if the taxpayer has not claimed the tax credit in the
past, (s) he may claim it for the previous three years.



 



To be eligible, taxpayers, aged 65
years or older, must own or rent their residence in Massachusetts, and have an
annual income of: $55,000 or less for a single filer; $69,000 or less for a
head of household; and $82,000 or less for joint filers. If a taxpayer’s
property is assessed at over $700,000, (s) he is not eligible for the tax
credit.



 



In 2012, the Circuit Breaker Tax
Credit provided $66 million in credits to nearly 8,000 eligible taxpayers.



 



Please contact the office of Senator
Ross with any questions or concerns at (617) 722-1555 or
Richard.Ross@masenate.gov.

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