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Massachusetts laws Includes clauses for real estate tax exemptions for blind persons, qualifying senior citizens, qualifying surviving spouses, minor children and elderly persons, qualifying veterans, and religious and charitable organizations.
Your main residence (your home) is exempt from CGT if youre an Australian resident and the dwelling: has been the home of you, your partner and other dependants for the whole period you have owned it.
Personal Exemption Filing statusExemption amount Single $4,400 Married filing separate $4,400 Head of household $6,800 Married filing joint $8,800 Dec 5, 2024
Cambridge The residential exemption serves to reduce. the effective tax rate on lower valued properties while raising it on higher valued properties. Since the same amount is deducted from every value, its impact is greatest on the lower valued properties.
Some types of properties are exempt from real estate taxes. These include qualifying nonprofit, religious and government properties. Senior citizens, veterans and those eligible for STAR (the School Tax Relief program) may qualify for exemptions as well.
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You must be 70 or older. For Clauses 41C and 41C, the eligible age may be reduced to 65 or older, by vote of the legislative body of your city or town. You must own and occupy the property as your domicile.
The residential exemption can significantly lower the annual residential tax for certain homeowners who occupy their primary residence by shifting the tax burden within the residential class. 16 Communities in the Commonwealth have adopted the Residential Exemption.