An Act authorizing the town of Norwell to establish a means tested senior citizen property tax exemption

This bill authorizes the town of Norwell to create a property tax exemption specifically for senior citizens who meet certain income and residency requirements. To qualify, homeowners must be at least 65 years old, have lived in Norwell for at least ten years, and have previously received the state's circuit breaker income tax credit. The town's board of assessors will determine the specific dollar amount of the exemption each year, setting it between 25% and 100% of the previous year's credit value, with the cost funded through the town's existing overlay account. Applicants must submit annual forms proving their income and assets, and the town retains the power to deny exemptions if an applicant's assets are deemed excessive. Additionally, the town's voters can vote to revoke this program at any regular or special town meeting.