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RECEIVED TOWN CLERK 2018 TAX DEFERRAL AND EXEMPTION STUDY COMMITTEE LEXINGTON MA ROLE: The Tax Deferral and Exemption Committee is charged to review and recommend to the Board of Selectmen options for the deferral or exemption of local property taxes under existing state law, or by home rule petition for a special act of the state legislature, that might enhance or make accessible the property tax relief currently available to elderly, low-income, disabled or otherwise deserving residents. APPOINTED by the Board of Selectmen: Co-Chairs Vicki Blier and Patricia Costello, Richard Bair, Pam Joshi. Board Liaison, Michelle Ciccolo. Appropriations Committee Liaison, John Bartenstein. Staff Liaison, Carolyn Kosnoff. HIGHLIGHTS: • Created an insert promoting Lexington's property tax deferral program which was included with first quarter real estate tax bills • Press releases resulted in a Colonial Times article on property tax deferrals and a guest editorial in the Lexington Minuteman • Prepared analysis and recommended the utilization of Chapter 59 Section 5C1/2 to increase all property tax exemptions by up to 100%. The 2018 Town Meeting voted the 100% increase effective at the end of Town Meeting • Provided research and input to the Residential Exemption Policy Study Committee, which is considering the exemption for Lexington property owners • Assisted the Assessor's Office in updating the Property Tax Relief Programs brochure with current information on the Massachusetts Circuit Breaker tax credit and the Federal Reserve interest rate to be used for deferrals. Also assisted in revising the cover letter for property tax deferral applications to clarify the change in the interest rate if ownership changes. • Provided a program on Property Tax Relief for 22 Lexington Seniors at the Community Center on October 18. Attendees were encouraged to act as ambassadors for tax relief information to their friends and neighbors. • Joined with the Property Tax Relief Committee of the Massachusetts Council on Aging to follow property tax exemptions and deferral legislation and programs offered by other communities • The committee continues to do research and to participate in discussions with town officials to maintain eligibility standards for the Town's property tax deferral program that are both fiscally prudent and beneficial to deserving property owners