Emergency Short-Term Rental Assistance Program
The Emergency Short-Term Rental Assistance Program (ESTRAP) was created by the Town of Hanover with funding provided by the Hanover Affordable Housing Trust. The ESTRAP is intended to offer a financial bridge for current Hanover residents who are in crisis and can no longer afford to live in Hanover. The program is meant only to allow for the applicant to remain in Hanover while seeking an affordable option, support program, or allow them time to find suitable and affordable housing elsewhere.
Hanover Affordable Septic Program
The Homeowner Package provides information for you, the homeowner, to apply for a septic system betterment loan. This loan is provided by the Hanover Affordable Housing Trust at a three-and-a-half percent (3.5%) interest rate for a period of 7 years and is 90% forgivable if you remain in the home for the full term of the loan.
Senior Tax Exemption (Clause 41C)
Residents 65 years of age or older who were domiciled in Massachusetts for the last 10 years, and owned property in Massachusetts for at least the last 5 years, are eligible to receive a real estate tax exemption of $1,500, provided that as a single person their income including Social Security was no more than $24,628 annually and their assets not including their home were no more than $40,000, or as a married couple their income including Social Security was no more than $36,942 annually and their assets not including their home were no more than $55,000.
Through monies approved by the Affordable Housing Trust and guidelines approved by the Taxation Aid Committee, the income level for single senior citizens is $45,000, and the income limit for married senior citizen couples is $57,417.
In addition, $15,000 was approved from the Affordable Housing Trust Fund to allow for increased hardship exemptions, to be determined by the Board of Assessors.
Senior Tax Exemption – Assets (Clause 17D)
Residents 70 years of age or older who owned and occupied the subject property for at least the last 5 years are eligible to receive a real estate tax exemption of $350 provided they did not have more than $40,000 in assets.
Through monies approved by the Affordable Housing Trust and guidelines approved by the Taxation Aid Committee, the age of eligibility for this exemption was lowered to 65. It is intended this lower age limit be continued in Fiscal Year 2021.