Laserfiche WebLink
t <br /> i <br /> CLAUSE 4SENIOR EXEMPTION OPTIONS <br /> t <br /> Allowable adiu tmen s under 2nd sentence of G.L. Ch. 59 X5(41 C) added by St. 20021 CIS. 184_§51 <br /> *. <br /> APPLICANT EACH CO-OWNER NOT APPLICANT'S T'S SPOUSE <br /> ELIGIBLE AGE Current Law Allowable,Adiustment �`� r ''Yy# <br /> 70 65 <br /> ,,fi .. . <br /> INCOME LIMITS Current Law Allowable Ad'ustment� Current Law-No Adjustment gyred <br /> Deductions.- $13,000 Single Up to $20,000 Single Each Co-owner <br /> (1) Minimum Social Security/ $15,000 Married Up to $30,000 //harried $13,000 Single <br /> retirement allowance set by DOR $15,000 Married <br /> each year and 2 business <br /> expenses or losses (i.e., only net <br /> profits/rental income included) <br /> Married limit is combined income of <br /> both spouses <br /> ASSET LIMITS Current Law Allowable Adlustment Current Law-No Adlustment-Allowed <br /> Married limit is combined assets of $28,000 Single Up to $40,000 Single Each Co-owner <br /> both spouses $30,000 Married Up to $55,000 Married $28,000 Single <br /> $30,000 Married <br /> ASSET DEDUCTIONS Current Law Allowable Adj*ustment Current Law- No Adjustment Allowed <br /> 1 Home up to number of units Up to 3 Family Up to 4 Family Each Co-owner <br /> noted, 2 Registered vehicles, 3 Up to 3 Family <br /> cemetery plots, household <br /> furniture/effects at domicile and . <br /> wearing apparel <br /> ' 4T - - 4 Y i f* M �� 1 wY A. Wit. +' •' f 5 F ; r• <br /> EMPTIOI AMOUNT Current Law Allowable iu tment �,� -. •* �r -��,# �. <br /> r r <br /> $500 Up to $1000 *K ,t p V� <br /> 1 i <br /> + 7 <br /> mount prorated bar % of a plicant's � <br /> ownership interest if co-owns with <br /> ancone but spouse <br />