Franklin Senior Circuit Breaker Tax Credit Seminar

Senator Richard Ross (R-Wrentham) and Representative Jeffrey N. Roy (D-Franklin) are pleased to announce that an informational seminar on the Senior Circuit Breaker Tax Credit will be held at the Senior Center in Franklin on Wednesday, March 19th at 1:30. They will be joined by Brian Lynch of the Massachusetts Department of Revenue. “Senior Circuit Breaker Tax Credits are an invaluable asset to our aging population and help them stay in their homes,” said Representative Jeffrey N. Roy. “I look forward to attending the session, participating in a discussion and speaking with the seniors about the options and solutions the tax credits provide.” The Senior Circuit Breaker is a tax credit for senior citizens whose property payments account for more than 10% of their annual income. Eligible seniors will receive a dollar credit on their Massachusetts tax return for every dollar that their total property tax, water and sewer bills exceed 10% of their income. A maximum of $1030 credit is available. Additionally, if the taxpayer has not claimed the tax credit in the past, (s) he may claim it for the previous three years. To be eligible, taxpayers, aged 65 years or older, must own or rent their residence in Massachusetts, and have an annual income of: $55,000 or less for a single filer; $69,000 or less for a head of household; and $82,000 or less for joint filers. If a taxpayer’s property is assessed at over $700,000, (s) he is not eligible for the tax credit. Please contact the office of Senator Ross with any questions or concerns at (617) 722-1555 or Richard.Ross@masenate.gov.