Mayor Brian Arrigo introduced a package of proposals to minimize financial burdens for Gold Star families, veterans, seniors and small businesses to the City Council on Monday night.
“We’re committed to keeping the tax burden as low as possible for Revere businesses and residents alike, particularly those who have served our country and our seniors on fixed incomes,” Mayor Arrigo said. “I hope the City Council will approve each proposal in short order so our constituents can begin to benefit as soon as possible.”
Upon adoption, the proposals would implement:
• A real estate tax exemption for Gold Star families. Adopting this section will demonstrate the City’s respect for the parents and guardians of those who made the ultimate sacrifice in the service, while at the same time reducing their financial burden.
• A Veteran Work-Off program to allow veterans, the spouse of a disabled veteran, or the surviving spouse of a deceased veteran, the opportunity to volunteer with the city in exchange for a reduction in real property tax obligations, up to $1,000 in a given tax year.
• A personal property tax exemption for the more than 500 Revere businesses with personal property valued at less than $10,000.
• Cost of Living Adjustments to the City’s existing Senior Work-Off Program, enabling more seniors the opportunity for an abatement on their property tax or water bills. The amended ordinance would increase the maximum income requirements to $73,250 for individual applications and $89,500 for married applicants.
In addition to the tax proposals, the Mayor will also propose the designation of a parking space at City Hall for veterans.