Barrington residents planning to apply for a senior tax exemption with the town should be prepared for an earlier-than-normal filing deadline.
This year, town officials have moved the filing …
This item is available in full to subscribers.
Please log in to continue |
Register to post eventsIf you'd like to post an event to our calendar, you can create a free account by clicking here. Note that free accounts do not have access to our subscriber-only content. |
Are you a day pass subscriber who needs to log in? Click here to continue.
Barrington residents planning to apply for a senior tax exemption with the town should be prepared for an earlier-than-normal filing deadline.
This year, town officials have moved the filing deadline from March 31 to Oct. 31. The earlier deadline is part of a larger plan to potentially change the town's senior tax exemption from a flat rate to an income-based exemption.
The prior exemption, or tax credit, offered a discount of about $368 to each household that qualified. But work is underway by the town's ad hoc tax exemption committee to switch the credit to income-based, potentially offering greater exemptions to those who earn less and smaller exemptions to those who earn more.
Barrington Tax Assessor Michael Minardi serves on the ad hoc committee and said the challenge is finding a way to keep the change in the exemption plan "revenue neutral."
Mr. Minardi said the town currently offers about $550,000 annually in senior tax exemptions. He added that officials need to collect income information from the residents applying for the exemptions in order to ensure that the program does not exceed that amount.
"They don't want to drastically change it," he said.
Mr. Minardi said residents, when filing, should supply a copy of their tax return from last year or a copy of an award letter from Social Security. That information will reportedly help members of the ad hoc committee build tax exemption amount "tiers" — allotting different size exemptions for residents of different income levels.
Mr. Minardi said he will strictly adhere to the Oct. 31 filing deadline, although he does, reportedly, have the power to allow for late filings if needed.
The tax assessor recently drafted a revised application and cover letter regarding the situation, and was planning to send it to residents after it was reviewed.
The move to review and potentially change the town's tax exemptions stemmed from discussions during Barrington's recent budget cycle. A number of residents — including many seniors who live on fixed incomes — shared their concerns about skyrocketing tax bills following the passage of a $68.4 million middle school construction bond and increases to the municipal and school department operating budgets.