Loan Betterment Program for Septic Systems

Sharon homeowners in need of septic system repair, replacement or upgrade are invited to apply to the town’s loan betterment program.

Through the program, homeowners can borrow funds at 3.5 % interest rate for 20 years.

The loans are offered through an agreement between the Town of Sharon, the DEP and the Massachusetts Clean Water Trust’s Community Septic Management Program.

The Board of Health sponsored an article on the 2021 Town Meeting warrant to establish the septic loan program after hearing that longtime residents were struggling to afford septic system improvements.

Replacing a septic system can cost $25,000 to $30,000.

Town Meeting voters approved appropriating $500,000 to establish the program.

The town borrows the funds from the Massachusetts Clean Water Trust, then lends the money to homeowners.

The homeowners pay off the betterment loan alongside their real estate taxes.

There is no cost to the town.

For details see application at this link or attached below.

For more information call (781) 784-1525 x2317.