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What you need to know: Other Resources

The Circuit Breaker Tax Credit

Tuesday, February 11, 2014   (0 Comments)
Posted by: Moe Casey
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The Circuit Breaker Tax Credit is a state income tax credit for eligible Massachusetts residents age 65 or older who paid rent or real estate taxes during the tax year. Even though the credit is based on property taxes, the state government, not the city or town, pays the credit.

The credit is for senior homeowners and renters who meet income limits and other eligibility requirements. Homeowners may claim the credit if they paid more than 10% of their total income for real estate taxes, including water and sewer debt charges. Renters can count 25% of their rent as real estate tax payments.

Click here to visit the Mass Resource website to learn more