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RECEIVED TOWN CLERK LEXINGTON MA 2021 TAX DEFERRAL AND EXEMPTION STUDY COMMITTEE REPORT ROLE: The Tax Deferral and Exemption Committee is charged to review and recommend to the Select Board 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 Select Board: Co-Chairs Vicki Blier and Patricia Costello, Richard Bair, Jane Current, Pam Joshi. Board Liaison, Joe Pato. Appropriations Committee Liaison, John Bartenstein. Staff Liaison, Carolyn Kosnoff. HIGHLIGHTS: • At the 2020 Annual Town Meeting, the Select Board offered a Warrant Article, proposed by this Committee, to request a home rule petition governing senior property tax deferrals granted by the Town. This special legislation allows the Town to continue to charge the deferral interest rate in place at the time of the deferral agreement for a period of up to one year before imposing the increase to 16% interest that State law requires upon the date of death of the property owner. The article was approved unanimously by Town Meeting and on October 7, 2020 the special legislation was filed by Representative Michelle Ciccolo as House Bill 5157. It was approved by the Legislature and signed by Governor Baker on January 13, 2021. • Fifty-two property tax deferrals were approved for FY2021 with the income limit at $90,000 and an interest rate of 1.44%. This is a 25% increase from the FY2020 deferral recipients. • Created an insert promoting Lexington's Senior Property Tax Deferral program which was included with first quarter real estate tax bills. • Publicized the Property Tax Deferral program in the January-February and March-April issues of"Sage," the Senior newsletter, and the January-February and March-April issues of The Colonial Times. • 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. • Joined with the Massachusetts Council on Aging (MCOA) to follow property tax exemptions and deferral legislation and programs offered by other communities.