FALMOUTH – Falmouth officials are moving ahead with possible expansions to real estate tax exemptions and abatements, including a potential residential exemption.
Town officials recommended changing the exemption age to 65 from 70, increasing the exemption amount to $1,000 from $500, and linking the increase to inflation rates
They also recommended increasing the blind exemption to $500 from $437.50.
“The additional amount over the $15,500 would be $66,500 dollars, and then, over time as the amounts get indexed to inflation, the number of people or participants may grow,” said Falmouth Director of Finance Ed Senteio at this week’s select board meeting.
Director of Accessing Patricia Favulli said the residential exemption would be more challenging to implement.
“We’ll need new software and more staff, because we’re talking about a large number of people that could possibly qualify. The first thing we need to do is put a study in place to figure out how many people would qualify,” said Favulli.
Board members gave approval to investigate the expansions, including the residential exemption, but they would not take effect unless approved at November’s town meeting.
The next step for the residential exemption will be an informational workshop for the board examining the issue that will be scheduled at a later date.
By Zack Clapp, CapeCod.com Newscenter
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