HomeMy WebLinkAbout2023-05-16-TDES-min RECEIVED
23 24 May, 2:14 P
D R A F T TOWN CLERK
LEXINGTON MA
Minutes
Tax Deferral and Exemption Study Committee
May 16, 2023 at 3:00 PM
A meeting of the Tax Deferral and Exemption Committee was called to order at 3:20 PM on
Tuesday, May 16, 2023 in the Ellen Stone room at Cary Memorial Hall.
Present were Co-Chairs Vicki Blier and Pat Costello, member Jane Current and Select Board
liaison Mark Sandeen (by telephone).
The purposes of the meeting:
1. Approve prior minutes
2. Consider proposal to ask Select Board to dissolve this committee
Meeting Results:
• Minutes of the January 5, 2023, meeting were reviewed and unanimously approved for
posting.
• Motion was made to ask the Select Board to dissolve this committee, because...
• Variables for the Property Tax Deferral program are now based on a published
Federal interest rate and the income qualification for a Massachusetts
Commonwealth tax program that receives a cost of living adjustment each year.
• Other departments and committees are in a position to continue activities that
this committee has done
Discussion:
The activities of this committee have been to...
• Review and propose refinements to the qualifications for property tax deferral
under General Laws Chapter 59, Section 5, Clause 41A.
• Advocate for home rule petitions needed for...
o Lexington to be able to change the eligibility age and income level
o Pegging the Deferral interest rate to an annually published Federal rate
o Pegging the Tax Deferral income qualification to the Massachusetts
Senior Circuit Breaker Tax Credit's annually published income limit for
Married, Filing Jointly.
o In cases where a deferral ends with no surviving spouse, allowing a one-
year grace period before the interest rate on the deferral rises to 16%.
• Monitor relevant new laws and IGRs from the Commonwealth
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• Monitor utilization of the property tax deferral program
• Provide education and outreach about the tax deferral program
We believe that these activities can be carried forward appropriately by other
groups and Town departments.
Vote: That we ask Select Board to dissolve the Select Board Study Committee on Tax
Exemption and Deferral.
Result: Passed unanimously
• Motion was made that we suggest the Select Board and Town Manager arrange with
other groups and Town Departments to monitoring state law and regulations, and
provide tax deferral education and communications
Vote: That the co-chairs write a letter to the Select Board requesting that the Tax
Deferral and Exemption Study Committee be dissolved.
Result: Passed unanimously
The meeting adjourned at 3:50 PM.
Respectfully submitted,
Jane Current
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