By Jack Shea
NEWBURYPORT –Mayor Donna Holaday has proposed a property tax break for the city’s senior citizen homeowners.
The tax break would be a portion of 5 percent to 10 percent of the average assessed value of all properties in the city in accordance with state law. Homeowners 65 and older would be eligible to apply.
Holaday unveiled the proposal to the City Council at its meeting Sept. 25. Given the current average assessed value in the city, if the exemption were set at 10 percent, for example, seniors could save from $621 to $1,242, according to preliminary calculations.
“As our housing values soar and property taxes have increased, we know this creates a burden on some of our seniors,” Holaday said in a press release. “It’s time they got a break.”
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