An Act relative to senior tax exemption

HD 4365 adjusts tax exemption rules for seniors owning real property in Boston. It increases the base exemption amount from $500 to $1,500 and replaces fixed income thresholds with 50% of the Area Median Income (AMI) for household size, as defined by HUD. The bill also raises property value limits from $28,000/$30,000 to $80,000/$110,000 for exemption eligibility. These changes apply specifically to Boston residents qualifying under the existing senior tax exemption program and update the calculation method annually using HUD data. The adjustments take effect immediately upon the bill's passage.