The Circuit Breaker Credit Amounts Adjusted
Certain senior Massachusetts residents (age 65 or older) can claim a refundable credit for the real estate taxes paid during the tax year on their Massachusetts income tax return. This credit applies only to the residential property owned or rented and used as a principal residence. This credit is also called the Circuit Breaker Credit.
The threshold amounts pertaining to the Circuit Breaker Credit have been adjusted for year 2004. The following reflects the updated amounts:
| Filing Status |
Total Income not to exceed: |
| Single |
$44,000 |
| Head of Household |
$55,000 |
| Married filing Jointly |
$66,000 |
|
|
| Maximum Credit |
$820 |
|
|
| Assessed Valuation of Principal Residence not to exceed |
$441,000
|
For more information please visit: www.dor.state.ma.us/help/guides/abate_amend/personal/issues/realestate.htm.
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