State Rep. Tom Walsh (D-Peabody) is reminding eligible seniors that, starting this year, the popular Senior Circuit Breaker Tax Credit has been doubled in value to $2,590 as part of a $1 billion tax-relief bill passed by the Massachusetts House and Senate earlier this year.
“The Senior Circuit Breaker Tax Credit is so important in helping our long-time residents, many of whom raised their family, volunteered, and put down roots in Peabody, afford to remain in their homes and continue to be part of the fabric of our community,” Walsh said in a statement. “I was pleased to work with my colleagues to double the value of this credit and ensure that this program was included in the tax cut package passed earlier this year.”
The Senior Circuit Breaker is a property-tax credit that was designed by the legislature with the hope of alleviating some of the burden that increasing property taxes often have on the budgets of senior citizens. For eligible persons just learning of this program, the tax credit can be applied retroactively for up to three previous tax years.
You may be eligible for the Senior Circuit Breaker Tax Credit if you meet the following criteria: You are age 65 or older before Jan. 1, 2024. (For joint filers, just one taxpayer must be 65 years old.) You own or rent residential property in Massachusetts and occupy the property as your primary residence. You have an annual income of $69,000 or less for a single filer; $86,000 or less for a head of household; or $103,000 or less for joint filers. Your property is assessed at no more than $1,025,000.
Anyone interested in learning more about the Senior Circuit Breaker Tax Credit or in obtaining a free senior circuit breaker informational brochure is encouraged to contact Rep. Walsh at 617-722-2410 or by email at Thomas.Walsh@mahouse.gov.
