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RECEIVED J u in, 3 5 f I� uiT°m TOWN CLERK 2012 TAX DEFERRAL AND EXEMPTION STUDY COMMITTEE LEXINGTON MA ROLE: To study, understand, and evaluate options for helping lower-income citizens, particularly seniors, with their property taxes. To research existing state legislation that enables local tax exemptions and deferrals, estimate the probable cost to the Town budget, and advise the Selectmen on the costs and benefits, pros and cons of each option. To track legislation currently under development by the Commonwealth and to encourage legislation beneficial to town interests. APPOINTED by the Board of Selectmen: Co-Chairs Vicki Blier and Patricia Costello, Mary Haskell. Board Liaison, Norman Cohen. Appropriations Committee Liaison, John Bartenstein. Staff Liaison, Rob Addelson. HIGHLIGHTS: • Continued to follow legislation pertaining to tax exemptions and deferrals • Joined with the Property Tax Relief Committee of the Massachusetts Council on Aging to follow tax exemptions and deferrals offered by other communities and emerging at the state level. • Updated the committee's brochure, Property Tax Relief for Seniors, with current information for distribution by the Town. • The committee continues to do research and to participate in discussions with town officials to maintain eligibility standards for the Town's deferral program that are both fiscally prudent and beneficial to deserving property owners. A Selectman's motion to raise the eligibility standard to households with incomes of up to $60,000 was approved by the Spring 2011 Town Meeting for the FY2012 property tax year.