Origin: Seniors (taxpayers age 65 or older) are eligible for a tax credit to the extent that their property taxes - or 25% of rent - exceed 10% of their income. Income limits and a cap on the maximum assessed value of the filer's primary residence apply. The maximum credit is also adjusted annually for inflation, see Appendix A. Income limits and the maximum credit are adjusted for inflation over a 1999 base year; however, chapter 136 of the Acts of 2005 increased the assessed home valuation to $600,000 and set its base year to 2004. The base amount upon which the maximum credit is determined was doubled in the 2023 tax year. The credits may not be sold or transferred to another taxpayer, but are refundable.
Origin: M.G.L. c. 62, § 6 (k)
Tax Type
Tax Expenditure
Item Number
Item Name
Description
Origin
FY2022
FY2023
FY2024
FY2025
FY2026
Personal Income Tax
Credits Against Tax
1.609
Refundable State Tax Credit Against Property Taxes for Seniors ("Circuit Breaker")
Seniors (taxpayers age 65 or older) are eligible for a tax credit to the extent that their property taxes - or 25% of rent - exceed 10% of their income. Income limits and a cap on the maximum assessed value of the filer's primary residence apply. The maximum credit is also adjusted annually for inflation, see Appendix A. Income limits and the maximum credit are adjusted for inflation over a 1999 base year; however, <a href="https://malegislature.gov/Laws/SessionLaws/Acts/2005/Chapter136" target="_blank">chapter 136 of the Acts of 2005</a> increased the assessed home valuation to $600,000 and set its base year to 2004. The base amount upon which the maximum credit is determined was doubled in the 2023 tax year. The credits may not be sold or transferred to another taxpayer, but are refundable.
<a href="https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter62/Section6" target="_blank">M.G.L. c. 62, § 6 (k<a href="https://malegislature.gov/Laws/SessionLaws/Acts/2005/Chapter136" target="_blank">)</a></a>
98.4
106.4
163.6
169.5
175.3
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