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-2- <br /> 2. Effective Date <br /> The acceptance vote should explicitly state the fiscal year in which the program <br /> will first be available. <br /> 3. Revocation <br /> Acceptance of the statute may be revoked, but the city or town must wait until at <br /> least gree gears after the statute was accepted to do s . Revocation is also by <br /> town meeting, town council or city council vote. G.L. Ch. 4 §4B. <br /> B. SCOPE OF ABATEMENT <br /> 1. Age <br /> Taxpayers must be over 60 gears of age to earn a property tax abatement under <br /> the program. <br /> 2. Ownership <br /> Taxpayers must be the assessed owner of the property on which the tax to be <br /> abated is assessed, or have acquired ownership before the work is performed <br /> and the abatement applied. If the property is subject to a trust, the senior must <br /> have legal title, i.e., be one of the trustees, on the applicable January 1 assessment <br /> date,, or at the time the work is performed. <br /> 1 Iore than one qualifying owner of the parcel may errs ars abatement, unless <br /> a1 pr grarr rule Iirnit rn xlt le abatements n nar l...See Section b low n. - <br /> . Maximum Abatement and Hourly Rate <br /> MMMEr <br /> the Bi u abatement t rs _ <br /> r a - ar ..i -$7-50-p �.fiscal v . "I diti-on . <br /> they nt rine redt fir tliir serves at an hourly rite higher than th6 <br /> Jestate -nun murffw gem mm f January 1, 2001, that rate is . tis an hour. <br /> Communities should als fs--e th rate''no lover th n-the.fed ral-mi. imu <br /> unless advised by the Wages and. Hours Division of the United States <br /> Department of Labor that the federal fair labor standards act does not apply t <br /> the program. The federal nu'rdmum enrage is currently $5.15 an hour. <br />