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Newton Sen. Cindy Creem to Host Seminar on Senior Tax Credit Program

The Circuit Breaker tax credit is open to eligible taxpayers age 65 and older.

Newton Sen. Cindy Creem will join fellow legislators next week for an informational seminar on the Senior Circuit Breaker tax credit

The seminar will be held at the Wellesley Council on Aging (219 Washington St., Wellesley) on Monday, Feb. 25 at 1 p.m. 

Creem will be joined by Sen. Richard J. Ross (R-Wrentham), Rep. Alice H. Peisch (D-Wellesley) and Brian Lynch of the Massachusetts Department of Revenue.

“State law gives eligible senior citizens who own or rent an opportunity to receive a tax credit,” Creem said in a press release announcing the event.  “It is important for seniors to become aware of programs designed to assist them financially.”  

The Senior Circuit Breaker is open to seniors (65 and older) whose property payments exceed 10 percent of their annual income. Eligible seniors receive a credit on their state tax return for every dollar their total property tax, sewer and water bills exceed 10 percent of their income.

Seniors can receive up to $1,000 in credit and, if the senior has not claimed the tax credit in the past, s/he can apply and claim the credit for the previous three years.

For more information, read the full press release issued below:

Senator Ross, Senator Creem and Representative Peisch Announce Wellesley Senior Circuit Breaker Tax Credit Seminar

Senator Richard J. Ross (R-Wrentham), Senator Cynthia Stone Creem (D-Newton) and Representative Alice H. Peisch (D-Wellesley) are pleased to announce an informational seminar on the Senior Circuit Breaker Tax Credit will be held at the Council on Aging in Wellesley on February 25, 2013 at 1:00PM. They will be joined by Brian Lynch of the Massachusetts Department of Revenue.

“The Senior Circuit Breaker is an excellent program that delivers much-needed relief for Massachusetts residents,” said Senator Ross. “This informational session offers a chance for local seniors to learn how they can take advantage of that savings.”

“State law gives eligible senior citizens who own or rent an opportunity to receive a tax credit,” said Senator Creem.  “It is important for seniors to become aware of programs designed to assist them financially.”  

"I look forward to joining Senator Ross in Wellesley to discuss the senior circuit breaker program available to many elderly residents of the Commonwealth," said Representative Peisch. "There are many instances where seniors qualify for this credit but do not appreciate how it will benefit them, so I am looking forward to answering questions and explaining the specifics of this program with Sen. Ross to the benefit of seniors in our community."

The Senior Circuit Breaker is a tax credit for senior citizens whose property payments exceed 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 $1000 credit is available. Additionally, if the taxpayer hasn’t claimed the tax credit in the past, (s)he may claim it for the previous three years.

To be eligible, taxpayers, 65 years or older, must own or rent their residence in Massachusetts and have an annual income of: $53,000 or less for a single filer; $67,000 or less for a head of household; and $80,000 or less for joint filers. If a taxpayer’s property is assessed at $705,000 or less, (s) he is not eligible for the tax credit.

In 2011, the Circuit Breaker Tax Credit provided over $67 million in tax credits to more than 85,000 eligible taxpayers.

Please contact the office of Senator Ross with any questions or concerns at (617) 722-1555 orRichard.Ross@masenate.gov.

 

Dan Fahey February 24, 2013 at 04:41 PM
This is a great program offered by the state, and I'm happy to see som amny senkor are taking advantage of it. Good for you, Cindy, for bringing added focus to this benefit, as there are many more elders who could use it. I know because I do financial counseling to senior homeowners in danger of losing their home, and far too often they know nothing about the various programs that cities and towns and the state offer for eligible seniors.
Adam Maleson February 24, 2013 at 06:53 PM
Senator Cynthia Creem shoud come out and openly oppose the override of Proposition 2 1/2 before she starts this phoney pantomime about getting tax credits to seniors. Of course, she will not, she will be an advocate of increasing everyone's taxes through the override of Proposition 2 1/2. Typical politician hypocrisy.

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