5 Key Market Trends Every Business Should Watch in 2024
When most brokers calculate the cost of doing their own admin, they think about hours. “I spend 15 hours a week on paperwork,” they’ll say, “but that’s fine, it’s part of the job.”
It’s not fine. And it’s not just the 15 hours.
The real cost is what you didn’t do during those 15 hours. How many leads went un-followed-up? How many listing appointments didn’t get booked because you were chasing signatures? How many clients got a slower experience because you were the bottleneck?
The opportunity cost is the real number. If you close deals at an average commission of $12,000 and you’re losing 1 deal per quarter to admin distraction, your admin “cost” is $48,000 per year, not $0.
The brokerages that scale fastest have internalised this math. They treat every hour of admin as a dollar figure, and they make staffing decisions accordingly.
Yes, seniors in Massachusetts must pay property taxes, but the state offers various programs to help reduce, defer, or exempt payments for eligible senior homeowners.
Property Tax Exemption (Clause 41C)
Qualified seniors may be eligible for a property tax exemption of up to $1,000, depending on the municipality. Eligibility requirements typically include:
– Being at least 65 years old
– Meeting income and asset limits, which vary by city or town
– Owning and occupying the property as a primary residence
Property Tax Deferral Program (Clause 41A)
Seniors who meet specific income requirements can defer payment of their property taxes until they sell or transfer their home. Key details include:
– Must be at least 65 years old
– Annual income limit (varies by town, but generally around $64,000)
– Taxes are deferred but accrue interest (rate determined by the municipality)
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Circuit Breaker Tax Credit
The Massachusetts Circuit Breaker Tax Credit provides relief for seniors whose property taxes (or rent) exceed 10% of their income. In 2024, the maximum credit is $2,590. Eligibility includes: – Being 65 or older – Owning or renting a home in Massachusetts – Meeting annual income limits (e.g., under $64,000 for single filers, $96,000 for married couples)
Additional Local Tax Relief Programs
Many cities and towns in Massachusetts offer additional property tax abatements or work-off programs, where seniors can volunteer in exchange for tax reductions.While seniors in Massachusetts must pay property taxes, they may qualify for exemptions, deferrals, or tax credits to ease the burden. Understanding these programs can help seniors reduce housing costs and manage expenses more effectively.
