New Center Fire Station Proposal Documents
The Senior Circuit Breaker Tax Credit is a highly effective, targeted tax credit for any owner or renter 65 year or older who meets the income and property value guidelines – and, unlike other types of local property tax exemptions – the state pays for it. The maximum credit in the coming tax year will be $970.
DOR has just released the rules and regulations for the program in tax year 2010. To qualify, an owner or renter’s total income cannot exceed $51,000 for a single individual; $64,000 for a head of household; and $77,000 for a married couple filing a joint return. The property’s assessed valuation cannot exceed $764,000.
As you can see from these limits, a great number of senior homeowners and renters may qualify for this refundable tax credit against personal income taxes.
I would urge local officials to take a moment to make sure that staffs in treasurers, collectors and assessors offices are able to point potential taxpayer beneficiaries to it. The program is also retroactive for three years, so taxpayers who find themselves eligible in tax year 2010 may also be in line for credits for previous tax years. This credit last year delivered nearly $60 million in tax credits to more than 77 thousand eligible taxpayers.
Congratulations and thanks to the citizens of Chelmsford and the Solid Waste and Recycling Department. This action line will provide a tracking number to help us follow up on your requests for service or to help to answer your questions.