PETITION OF:

SECTION 1. The town may provide, by bylaw, a freeze on the rate and valuation of taxes on real property for any person who is sixty-five (65) years or older if that person's income, together with the income of the spouse of such person and any other person who resides within such residence, does not exceed $45,000.00 for the immediately preceding taxable year.

The property taxes must have been imposed upon a residence that was occupied by the person claiming a freeze on the rate and valuation of taxes on real property as a principal place of residence as of the time of filing.

No claimant shall receive a freeze on the rate and valuation of taxes on real property on more than one residence in any year.

The confinement of the person to a hospital, nursing home, boarding home, or adult family home shall not disqualify the claim of a freeze on the rate and valuation of taxes on real property if:

(a) The residence is temporarily unoccupied (minimum 3 months);

(b) The residence is occupied by a spouse and/or a person financially dependent on the claimant for support; or

The person claiming a freeze on the rate and valuation of taxes on real property must have owned as a principle residence for a minimum of five years, at the time of filing, in fee, as a life estate, the residence on which the property taxes have been imposed or if the person claiming a freeze on the rate and valuation of taxes on real property lives in a cooperative housing association, corporation, or partnership, such person must own a share therein representing the unit or portion of the structure in which he or she resides. For purposes of this Act, a residence owned by a marital community or owned by co-tenants shall be deemed to be owned by each spouse or co-tenant, and any lease for life shall be deemed a life estate.

The person claiming a freeze on the rate and valuation of taxes on real property must be sixty-five years of age or older on December 31st of the year in which a freeze on the rate and valuation of taxes on real property claim is filed, PROVIDED, that any surviving spouse of a person who was receiving a freeze on the rate and valuation of taxes on real property at the time of the person's death shall qualify if the surviving spouse is sixty years of age or older and otherwise meets the requirements of this Act.

This Act does not apply to subsequent improvements to the property in the year in which the improvements are made. Subsequent improvements to the property shall be added to the value otherwise determined under this Act at their true and fair value in the year in which they are made.

The primary residence shall not contain more than five contiguous acres of land immediately surrounding such residence.

'Income' means federal adjusted gross income, from all sources as defined in the Internal Revenue Code of 1986, as amended.

A person shall not receive a freeze on the rate and valuation of taxes on real property granted by this Act unless the person or person's agent files yearly an application with the Assessors of the Town.

Said application shall give the person's age and the amount of gross income which the person and the person's spouse and any other persons residing within such residence received during the last taxable year, and such additional information relative to receiving such a freeze on the rate and valuation of taxes on real property as will enable the Assessors to make a determination as to whether such owner is entitled to such a freeze on the rate and valuation of taxes on real property.

The Assessors shall provide application forms for a freeze on the rate and valuation of taxes on real property granted by this Act which shall require such information as may be necessary to determine the initial and continuing eligibility of the owner for a freeze on the rate and valuation of taxes on real property.

A claimant must not owe any delinquent taxes on the residence for previous years.