22 July, 2024
Interim Town Manager Elaine Lazarus is pleased to announce the availability of the Means-Tested Senior Tax Exemption Program for eligible residents. This program provides valuable tax relief to seniors who qualify based on specific criteria.
“This program is a crucial opportunity for our senior residents to receive necessary tax relief,” said Interim Town Manager Lazarus. “We are committed to supporting our senior community members and ensuring they have the resources they need to thrive in Hopkinton.”
Residents who qualified for the Circuit Breaker tax credit on their 2023 Massachusetts Income Tax filing may be eligible for this program. The requirements include:
Age 65 or older, with any co-owner being at least 60 years of age by Dec. 31, 2023.
Residency in Hopkinton for the past 10 consecutive years.
Income not exceeding $69,000 for a single person, $86,000 for a head of household, or $103,000 for a married couple filing jointly.
Assessed value of the principal residence not exceeding $1,025,000.
Assets, excluding the principal residence, not exceeding $250,000.
Applicants for this exemption can continue to receive other exemptions they have already been granted under different programs. As approved by the Massachusetts Legislature, the maximum Circuit Breaker tax credit for 2023 is $2,590.
The Board of Assessors will review all applications. Once the number of qualified applicants is determined, the Select Board will set an exemption credit between 50 and 200 percent of the Circuit Breaker tax credit.
Application Process:
Residents interested in applying for the Means-Tested Senior Tax Exemption must submit a complete application to the Assessor’s Office by Aug. 30, 2024. Incomplete applications or those missing supporting documentation will not be processed. Required documentation includes proof of age, complete copies of the 2023 federal and state income tax returns, Schedule CB, and statements from all asset accounts covering the date of July 1, 2024.
Please visit the Town of Hopkinton's official website here for detailed application instructions and to download the application form.
Contact Information:
Residents can contact the Assessor’s Office at 508-497-9720 with questions about the program or the application process.
“We encourage all eligible residents to apply and take advantage of this benefit," said Deputy Assessor Renee Chen.
