INCREASE TAX BREAK FOR SENIORS

By Bob Katzen

The House 31-125, rejected an amendment that would increase by $1,005 (from $750 to $1,755) the maximum tax credit which seniors over 65 who qualify, can receive under the Senior Circuit Breaker Tax Credit Law. The law applies to seniors with homes valued at less than $884,000 and who earn $62,000 or less for a single individual who is not the head of a household; $78,000 for a head of household; and $93,000 for married couples filing a joint return.

Also to qualify, if you are a homeowner, your property tax payments, together with half of your water and sewer expense, must exceed 10 percent of your total Massachusetts income for the tax year. If you are a renter, 25 percent of your annual Massachusetts rent must exceed 10 percent of your total Massachusetts income for the tax year.

Amendment supporters said this will help seniors on fixed incomes who are having a difficult time as inflation and the cost of food and gas soar.

Amendment opponents again said that this amendment is premature and urged the House not to act on tax reductions one at a time but instead to wait and consider Gov. Baker’s comprehensive tax reduction package which might be voted on in a few weeks.

(A “Yes” vote is for the increased tax credit of $1,005. A “No” vote is against it).

Rep. Christine Barber No Rep. Mike Connolly No Rep. Erika Uyterhoeven No

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.