We need more housing, whether it is affordable housing, rental units, ADUs or just plain standalone houses. This national problem is happening here.
We have around 9,000 seniors over 65 and 2,200 who own homes, many of whom have lived in them for 30 years or more. Some seniors are being priced out of their homes as real estate taxes rise every year and take a bigger bite of their fixed incomes.
Every community has people facing financial hardship. Even the wealthiest communities have people who can no longer afford to live there. Every ladder has a bottom rung.
Financial hardship occurs when income barely covers expenses. People sometimes tap into their home equity by borrowing against it. Reverse mortgages are possible but seniors are often victimized instead of helped.
Financial hardships often start a vicious cycle. A senior is just scraping by. They fall further behind in their real estate taxes. Interest charges accumulate. If this cycle continues, foreclosure is the likely end point.
Regardless of foreclosure or a sale, whatever equity someone may have in their home will be reduced by the taxes and fees they owe. Whatever remains may make it hard to find housing they can afford. Finding affordable housing is nearly impossible in Greenfield and many surrounding towns because it doesn’t exist.
However, some relief is available. The Massachusetts Legislature provides exemptions to veterans, seniors, blind, and the disabled. These exemptions can ease the tax burden a little for those who qualify. (Visit the City of Greenfield Assessor website for more information and applications.).
There are qualifications for these exemptions that many people may not meet. For those who do qualify, their real estate taxes may be reduced by anywhere from $400 to $1,000. The City Council has voted to increase these amounts by a cost of living adjustment set by the state.
In addition to exemptions set by law, there is also an Elderly and Disabled Tax Fund (EDTF). Think of it as a mutual aid fund — neighbors helping neighbors.
Recorder columnist Al Norman referenced the fund in his Dec. 17 Pushback column. Although the fund won’t start until January 2027, the EDTF is accepting donations now. Checks should be made out to “Elderly and Disabled Tax Fund” and mailed to the Treasurer at City Hall.
The EDTF Committee reviews and approves applications. People who are approved will get an award. The amount will depend on how much money is raised and the number of qualified applicants but is capped at $2,000.
The greatest tax relief comes from tax deferrals based on financial hardship. Seniors are eligible under Clause 41A. Clause 18A is available to anyone else facing financial hardship. In both cases, the Board of Assessors determines the deferral amount.
Deferring taxes means putting a lien on the property. The lien is released when taxes, interest and fees are paid. This usually happens when the property is sold.
Seniors under Clause 41A can defer real estate taxes up to 50% of the value of the property. There are no asset restrictions but income is restricted to $20,000.
Clause 18A is a temporary deferral which can only be used for three years. Repayment must be made within five years after the most recent deferral.
The Assessors Office is urging people to apply for the statutory or hardship exemptions for which they qualify. Tax deferrals may help only a few who may qualify for them. Exemptions and small grants can help people facing temporary financial hardships. Overall, the financial help is limited but sometimes a band-aid is better than nothing.
Jim Geisman is chairperson of the Greenfield Board of Assessors and a member of the Elderly & Disabled Tax Fund.