The Tax Deferral Program
Many retired homeowners feel "house-rich and income-poor". Property taxes constitute a serious financial burden, which can even force the sale of the home. Hingham offers a tax deferral program, which enables owners to defer payment of up to 100% of annual Property taxes. Deferred taxes accumulate with simple interest at 2% as a lien on the property until it is sold or the owner(s) has deceased. You must be 65 years of age as of July 1, 2022. Your gross receipts must be $65,270 or less. You must own and occupy your home as of July 1, 2022. You must have owned a property in MA for 5 years and domiciled in MA for the past 10 years.