Reading Seniors, It's Time For A Tax Break

Following is information from the Reading Board of Assessors and Chief Appraiser Victor Santaniello regarding the senior real estate tax exemption:

As you may have heard, your Assessing Department is gearing up for the implementation of our new Reading Senior Circuit Breaker Real Estate Tax Exemption. Applications will be available on July 24th at our office in Town Hall, the Reading Pleasant Street (Senior) Center and the Reading Public Library. Our office will begin receiving applications on August 1st and ending on August 31st .

In order to qualify, you must:

 1. Receive a Senior Circuit Breaker Credit on your 2016 Massachusetts Income Tax Return.

 2. You, or at least one joint applicant, must have owned and occupied a home in Reading as your principal residence for the past 10 consecutive years.

 3. Applicant is 65 by the close of the previous year (joint applicant must be at least 60).

 4. Must NOT have significant other assets, i.e. second home, which would disqualify you.

What do you need to bring?

1. 2016 Income Tax Filing with 2016 MA state tax form Schedule CB.

2. Valid Massachusetts ID, Birth Certificate or valid passport

 3. For properties that may be subject to a trust, bring trust instrument and schedule of

beneficiaries.

Again, please do be prepared with your state and federal 2016 income tax filing and any trust documents that may apply so that we can determine eligibility.

The amount of the exemption will depend on the number of applicants and will be based upon your individual circuit breaker credit. At a minimum, the town will offer at least 50% of your circuit breaker credit. The maximum credit could be up to double your circuit breaker credit.

The amount of the credit will be determined with the Board of Selectmen at the annual classification presentation by the Board of Assessors in November 2017.

Please understand that only 2 other Massachusetts communities have established an additional form of senior tax relief. And, since this is the first time that we are doing this, I respectfully ask for your patience and understanding.

On Thursday, July 27th at 1 p.m. I will be giving a presentation at the Senior Center about our new exemption and it will be a great opportunity to ask any questions at all. For any other inquiries, please do call the Assessor’s Office at 781-942- 9027.