Towns offer tax relief for seniors

The Milford Daily News (Milford, MA)
Kathy Uek
March 22, 2008

Several towns in Massachusetts offer Property Tax Deferral programs for seniors, provided they meet certain age, income, and residency requirements. Seniors are often wary of such programs, however, since the deferral can eat into the equity in a home. Additionally, if the homeowner dies and taxes have been deferred, the homeowner's heirs may have to pay back the taxes at a high interest rate. As Ruth Harriet Jacobs, senior scholar at the Wellesley Centers for Women, states, "The home is the principal asset for many elders, which they want to leave to their children and grandchildren, who are struggling. More elder parents help their kids financially than the reverse of children helping their parents."

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