By the Reading Board of Assessors
Victor Santaniello, Chief Appraiser
Your Assessing Department is gearing up for the second year of our Reading Senior Circuit Breaker Real Estate Tax Exemption. Applications will be available next week at our office in Town Hall, the Reading Senior Center, and the Reading Public Library. Our office will be receiving applications on August 1st with the last day to file on August 31st.
In order to qualify, you must:
- Receive a Senior Circuit Breaker Credit on your 2017 Massachusetts Income Tax Return.
- 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.
- Applicant is 65 by the close of the previous year (joint applicant must be at least 60).
- Must NOT have significant other assets, i.e. second home, which would disqualify you.
What do you need to bring?
- 2017 Income Tax Filing with 2017 MA state tax form Schedule CB.
- Valid Massachusetts ID, Birth Certificate or valid passport
- 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 2017 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 Select Board at the annual classification presentation by the Board of Assessors.
Please understand that only 2 other Massachusetts communities have established an additional form of senior tax relief. So, I respectfully ask for your patience and understanding during our review of pertinent documents to determine eligibility.
For any other inquiries, please do call the Assessor’s Office at 781-942-9027.