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The Task Force found that Concord’s residential tax exemption reaches most households it considers lower income, but also benefits a substantial number of households above that group. It agreed to use $150,000 in annual household income—about 80% of Concord’s median income—as the working definition of lower income. The analysis estimated $3.2 million in exemption costs distributed to non-qualifying groups, in addition to $2.4 million benefiting qualifying homes above the breakeven point.
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The Task Force is evaluating whether the residential tax exemption is targeted effectively and what alternatives could provide tax relief. Members agreed that the report should examine the exemption’s impact, possible alternatives including Sections 41C½ and 5O, and whether more eligible resident owners could be encouraged to apply. No final recommendation or policy change was approved at this meeting.
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