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S 2713

Authorizes cities, villages, and towns to adjust the speed limit for portions of state highways that are particularly dangerous

2025 Regular Session Introduced by Rachel May

Allows elderly homeowners to defer property taxes with a formal agreement, liens, interest tied to bond rates, and a 50% value cap on deferred taxes.

REFERRED TO TRANSPORTATION
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WeVote Research Nonpartisan
Bill Summary · S 2713

Summary — S.2713 (2025): An Act relative to senior property tax deferral

Note: The bill text provided amends Massachusetts General Laws (ch. 59, §5, clause Forty‑first A) and concerns a senior property tax deferral program. (The supplied title referencing speed‑limit adjustments appears to be inconsistent with the bill text; this summary reflects the actual text.)

Main purpose

To revise and clarify the statutory tax‑deferral option for homeowners age 65 and older by (1) specifying eligibility and application procedures, (2) setting rules for tax‑deferral and recovery agreements between owners and local boards of assessors, and (3) defining lien, interest, notification, and recovery mechanics.

Key provisions

  • Eligibility

    • Owners (or joint owners/spouses) who are age 65+ and occupy the property as their domicile.
    • Income limit: gross receipts in the preceding year must not exceed the amount for a single individual (or married filing jointly) as determined by the Commissioner of Revenue for purposes of ch. 62, §6(k).
    • Ordinary business expenses and losses may be deducted when computing gross receipts; personal/family expenses may not.

  • Application and notice

    • Applicants may apply to the board of assessors on or before the regular exemption deadline.
    • Boards must notify property owners who previously entered into a tax deferral agreement, in writing and via telephone, of the deadline to apply each fiscal year.
    • Boards must notify deferral participants at least annually, in writing, of the current balance owed.

  • Tax deferral and recovery agreement (required)

    • No sale/transfer may be consummated unless deferred taxes that would otherwise have been assessed are paid, with interest.
    • Interest rate: the greater of (i) the municipality’s most recent municipal bond rate if the municipality bonded within the preceding 3 years, or (ii) the most recent Commonwealth bond rate — unless the local legislative body approves a lesser rate.
    • Aggregate deferred taxes plus interest cannot exceed 50% of the owner’s proportional share of the property’s full and fair cash value.
    • Upon the owner’s death, heirs/assignees/devisees have priority to keep the property by paying deferred taxes plus interest; surviving spouses entering a new deferral agreement may postpone payment during their life, with additional deferrals added to the balance.
    • If unpaid, deferred taxes and interest may be recovered from the owner’s estate.

  • Liens and recording

    • The assessors must record a statement in the registry of deeds, creating a lien for deferred taxes plus interest.
    • Such a lien is subordinate to reverse mortgage liens (except shared‑appreciation instruments).
    • Filing fees for the statement are paid by the municipality and added to the taxes due.
    • The recorded statement has similar effect to a taking for nonpayment under ch. 60, §53, but with specified differences: (a) interest accrual rules change after conveyance or 1 year from death; (b) no assignment under ch. 60, §52; (c) foreclosure petition under ch. 60, §65 cannot be filed until 6 months after conveyance or 1 year after death.

Who is affected

  • Primary: Massachusetts homeowners age 65+ who meet the income threshold and occupy the property as their domicile.
  • Local governments: boards of assessors and city/town legislative bodies (for interest rate decisions).
  • Heirs, mortgagees, and purchasers: affected by lien priority, transfer restrictions, and notification/recording rules.
  • Reverse mortgage holders: lien subordination rule may affect priority.

Effective date and procedural status

  • Applies to taxes assessed for fiscal years beginning on or after July 1, 2025.
  • Introduced: September 4, 2025.
  • Committee actions: Reported favorably by the Senate Committee on Revenue (11/20/2025) as a new draft of S.2018 and S.2022; referred to Senate Ways & Means. (The legislative action list also shows references to Commerce and Transportation committees; records appear inconsistent.)

Potential impacts to note

  • Provides an enforceable mechanism for municipalities to defer taxes while protecting municipal interests with recorded liens.
  • The 50% cap limits municipal exposure but may constrain how much tax can be deferred.
  • Tying interest to bond rates links the cost of deferral to market conditions; local legislative bodies may choose lower rates.
  • The provision subordinating the deferral lien to reverse mortgages (except shared‑appreciation) could affect lenders and borrowers using reverse mortgages.

If you want, I can produce a one‑page fact sheet for homeowners or a municipal FAQ explaining procedures and template language for assessors’ agreements.

Compiled from official sources — confirm details with the bill’s official record.

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