Senator Ross, Representative Garlick, and Senator Rush Announce Senior Circuit Breaker Tax Credit Seminar

Needham – Senator Richard Ross, Representative Denise Garlick, and Senator Michael Rush are pleased to announce that they are hosting an informational seminar on the Senior Circuit Breaker Tax Credit at the Needham Community Center (300 Hillside Avenue) on Monday, January 30th at 2:00pm. They will be joined by Brian Lynch of the Massachusetts Department of Revenue. This event is open to all.

“With tax season approaching, the Senior Circuit Breaker Tax Credit can offer a substantial amount of relief and assistance to seniors in need,” said Senator Ross. “Every year we host these seminars because many of our constituents are unaware of the potential savings available to them. I encourage all of my constituents who are eligible to attend this information session and learn how they can benefit from this essential program.”

“Older adults need many tools in their ‘financial’ tool box as they plan and meet their goals. The Senior Circuit Breaker Tax Credit information and use can be one of the valuable tools,” stated Representative Denise Garlick, House Chair of the Joint Committee on Elder Affairs.

“The Circuit Breaker has helped Massachusetts seniors save millions of dollars on property taxes since it was approved in 1999,” said Senator Mike Rush. “We hope this seminar will raise awareness and help seniors to gain a better understanding of their eligibility and the real savings they can achieve.”

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 $1070 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: $57,000 or less for a single filer; $71,000 or less for a head of household; and $86,000 or less for joint filers. If a taxpayer’s property is assessed at $720,000, (s)he is not eligible for the tax credit.

The Circuit Breaker Tax Credit annually provides approximately $83 million in credits to nearly 69,000 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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