BARNSTABLE – A comprehensive $1.02 billion dollar tax relief package was recently approved by state officials, which will triple the maximum allowable Title 5 tax credit for homeowners repairing or replacing their septic tanks.
Officials have said it will be critical to homeowners throughout Cape Cod.
The bill will also double the maximum Senior Circuit Breaker tax credit from $1,200 to $2,400, indexed to inflation, to assist nearly 100,000 seniors with their housing costs.
Raise the Earned Income Tax Credit from 30% to 40% of the federal credit, which will benefit approximately 400,000 taxpayers earning less than $60,000.
It will also double the lead paint abatement to $1,000 for partial abatement and $3,000 for full abatement among other changes.
House Bill 4104 must still be approved by the Senate and enacted in both branches before reaching Governor Maura Healey’s desk for her review and signature.
About Zachary Clapp
