HomeMy WebLinkAbout2016-TDES-rpt RECEIVED
TOWN CLERK
2016 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,
Alan Seferian, 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
• 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
• Worked with members of the Appropriation Committee in an analysis of the
FY2016 property revaluations to determine whether there was a disproportionate
increase in the assessments of Lexington's less expensive properties
• 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 $70,000 was approved by the Spring 2016 Town Meeting for the FY2017
property tax year.