Proposal for eight apartments rejected in Franklin
Franklin Police dog gets bulletproof vest
Franklin firefighters respond to gas leak
Franklin, MA
Providing accurate and timely information about what matters in Franklin, MA since 2007. * Working in collaboration with Franklin TV and Radio (wfpr.fm) since October 2019 *
Tax Year | Number of Filers | Amount of Credit Claimed | Average Credit |
2001 | 87 | $28,251 | $325 |
2002 | 109 | $66,448 | $610 |
2003 | 150 | $90,818 | $605 |
2004 | 171 | $107,020 | $626 |
2005 | 202 | $122,377 | $606 |
2006 | 234 | $158,800 | $679 |
2007 | 248 | $173,524 | $700 |
2008 | 302 | $217,429 | $720 |
2009 | 324 | $240,692 | $743 |
No other refundable tax credit equals the Senior Circuit Breaker Tax Credit for putting money into the wallets of average taxpayers 65 and older. In tax year 2009, more than 77,000 senior taxpayers who were either homeowners or renters received credits of nearly $60 million.
Yet it is safe to say that many eligible taxpayers have never heard of the credit. If you are reading this and have older relatives or friends who might benefit, pass on the word. The maximum credit, after all, is worth $970 in the coming tax year.
The Department of Revenue has just released the rules and regulations for the Senior Circuit Breaker Tax Credit in tax year 2010. The credit is based on the actual property tax or rent paid by the eligible taxpayer who is either living in their own home or paying rent.
A taxpayer's total income may not exceed $51,000 for a single individual; $64,000 for a head of household; or $77,000 for married couples filing a joint return. The assessed valuation of a residence may not exceed $764,000. Many taxpayers 65 and over fall within these limits.
The credit is equal to the amount by which the taxpayer's property tax payments in the current tax year, including water and sewer charges but excluding any abatement or exemption, exceeds 10 percent of the taxpayer's total income.
The credit also works for renters. It is equal to the amount by which 25 percent of the rent actually paid during the taxable year exceeds 10 percent of the taxpayer's total income, with the credit capped at $970.
The 4th Annual Random Smile Gala will be held at Christina's in Foxboro at 6:00 pm. The event is a semi formal, black tie optional affair. There will be a surf and turf dinner with live music and both live and silent auctions. A few of the items up for bid include Patriot and Red Sox memorabilia, vacations, golf related items and electronics. Tickets are $100 and may be purchased via the Random Smile web site.Read more in Patrick Coleman's Wrentham Times
One item that was not written in the article was that Parry Aftab presented the kids with the "Teenangel Chapter of the Year" award at the hearing in front of Attorney General Coakley. The kids are soo excited. This was the first time in 6 years that this award has been given to a chapter other than the New Rochelle, NY chapter.
"Any way you slice the data, we look like a low-tax, efficient (town government), dangerously over-reliant on a revenue source (state aid) on which we have no control," Whalen said.
"They're a new set of eyes and they will challenge things (in the previous report) as they go through the process," said Douglas Hardesty, the committee's chairman. "When we are through, hopefully we'll learn something new."
At a meeting last night, the committee discussed an analysis done by Whalen showing how Franklin compares to 30 comparable communities in the state in tax rate, and spending on education.
Franklin has one of the lowest tax rates of the comparable communities, and it is one of the lowest in per-pupil spending, he said.Read the full article in the Milford Daily News here