HomeMy WebLinkAbout2022-TDES-rpt RECEIVED
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TOWN CLERK
LEXINGTON MA
2022 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
• Fifty-three property tax deferrals were approved for FY2022 with the income limit
at $90,000 and an interest rate of 0 08% This is the same number of deferrals as
in FY2021 when the interest rate was 1 44%
• 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 "Sage," the Senior newsletter
• 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
• Updated the 2021 Senior Circuit Breaker Anytown flyer for the Massachusetts
Council on Aging (MCOA)
• Joined with the Massachusetts AARP to follow property tax exemptions and
deferral legislation and programs offered by other communities