Elderly Exemption
Basic Qualifications | Maximum Income | Maximum Assets | Exemption Amount |
|
|
|
|
Age 65 or older‐single as of July 1st, 2021 | $24,911 | $40,000 | $1,000 |
Age 65 or older‐married as of July 1st2021 | $37,367 | $55,000 | $1,000 |
ALL supporting documentation must be provided each year in order for your application to be processed, per Massachusetts General Law Chapter 59 Section 5 requirements, the following documention is requred:
BIRTH CERTIFICATE (COPY)
(when applying for the first time only) All Applicants must be 65 by 7/1/2021
ASSETS
Values/balances of assets as of July 1, 2021 are required
Copies of asset (bank) statements showing value/balances as of July 1, 2021.
Assets Include:
□ Savings Accounts □ CD’s □ Mutual Funds □ Checking Accounts
□ 401k’s □ Stocks & Bonds □ Money Market Acc. □ IRA’s
□ Copies of tax bills for all other real estate owned
EARNINGS
Gross income of all wages, pensions, and Social Security earnings from the year ending
December 31, 2019
- Copies of earning statements showing gross income of all wages, pensions, annuities,
- and Social Security earnings for the year ending December 31, 2019.
Copy of Declaration of Trust and Schedule of Beneficiaries are required for ALL FORMS