7. WHAT TYPES OF EXEMPTIONS (REDUCTION FROM REAL ESTATE TAXES) DOES THE TOWN OF NORWELL OFFER?
A variety of exemptions are available under Massachusetts Law to reduce property tax obligations for certain qualifying taxpayers: elderly persons, blind persons, disabled veterans, surviving spouse or orphaned minor child, widow or orphaned minor of police officer or fire fighter, and extreme hardship. Exemptions are distinguished from abatements in that exemptions refer to the person while abatements refer to the property.
The qualifying date is July 1, the first day of the fiscal year. When the third
quarter actual tax bill is sent to taxpayers in late December, applications are due within 3 months of the postmark date.
Because of the number and complexity of exemptions, the following table is intended only to give you a general idea of what is available. If you have the slightest suspicion you may be eligible or have any questions, call the Assessor's Office to discuss details! Note: that certain income limits include deductions (Clause 41C) and asset limits do not include the value of owner occupied condominiums, and 1,2,3 family houses. Certain exemption applications will require a copy of the tax forms filed in the last calendar year, or a statement indicating that the applicant(s) does not file tax forms. The number of owners of the property also falls into the review of qualification, which may mean non-eligibility of the exemption, a pro-rated, or a full exemption.
Also, in certain conditions, if two or more persons, whether or not related or married, own a single parcel and each qualifies for a different exemption, each would be entitled to receive the exemption for which he or she qualifies.
An additional qualification for most exemptions is the ownership and occupancy of the property. In most cases, the applicant must have owned and occupied real estate property in Massachusetts for five years (and owned and occupied the present property on July I in the year of application), and Massachusetts must have been the applicant's place of domicile for the preceding ten years.
The Tax Deferral Program:
Many retired homeowners feel "house-rich and income-poor". Property taxes constitute a serious financial burden, which can even force the sale of the home. Hingham offers a tax deferral program, which enables owners to defer payment of up to I 00% of annual Property taxes. Deferred taxes accumulate with simple interest at 8% as a lien on the property until it is sold or the owner(s) has deceased.
ATTENTION: OWNERS OF PROPERTY IN TRUST!'.
Trust ownership arrangements may affect qualification for a statutory exemption. As a general rule, an applicant must be a trustee and a beneficiary and submit:
1. A copy of a recorded trust instrument, including amendments;
2. A copy of the schedule of beneficiaries.
Consult your attorney if these requirements affect you!
AN ADDITIONAL ALTERNATIVE: THE PROPERTY WORK OFF PROGRAM
The Council of Aging began a program called the Property Tax Work-Off Program, a program to permit older residents to reduce property taxes by up to $500 per year by volunteering for the Town. Please contact the Senior Center for details.
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