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Posted on: January 9, 2023

Residents Aged 65+ Eligible for Property Tax Deferral

property tax

If you are a Lexington resident aged 65 or older with a 2021 gross household income of $90,000 or less, you can postpone paying all or any part of your property tax bill and let the value of your house pay the tax bill later. 

Each year’s deferral is like an individual loan that doesn’t have to be repaid during your lifetime or your spouse’s lifetime unless home ownership is transferred or you choose to pay it off. Deferrals are a safe way to free up income. By law and by contract, a resident can never be forced to sell or move due to taxes deferred under this program. 

Fiscal Year 2023 deferrals will enjoy a very low simple interest rate of 1.0%

A brochure describing all property tax exemptions and deferrals is available at the Assessor’s Office, the Lexington Community Center and on the Assessor's web page.

Contact

For detailed qualifying information on the Property Tax Deferral Program and other State and local tax programs, call the Assessor’s Office at 781-698-4578.


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