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| 2 | 2 | | FILED ON: 7/30/2024 |
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| 3 | 3 | | HOUSE . . . . . . . . . . . . . . . No. 4942 |
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| 4 | 4 | | The Commonwealth of Massachusetts |
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| 5 | 5 | | _______________ |
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| 6 | 6 | | In the One Hundred and Ninety-Third General Court |
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| 7 | 7 | | (2023-2024) |
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| 8 | 8 | | _______________ |
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| 9 | 9 | | An Act relative to property tax classification in the city of Boston. |
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| 10 | 10 | | Whereas, The deferred operation of this act would tend to defeat its purpose, which is to |
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| 11 | 11 | | regulate the property tax classification limits in the City of Boston beginning in fiscal year 2025, |
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| 12 | 12 | | therefore it is hereby declared to be an emergency law, necessary for the immediate preservation |
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| 13 | 13 | | of the public convenience. |
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| 14 | 14 | | Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority |
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| 15 | 15 | | of the same, as follows: |
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| 16 | 16 | | 1 SECTION 1: Notwithstanding section 1A of chapter 58 of the General Laws or any other |
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| 17 | 17 | | 2general or special law to the contrary, the commissioner of revenue shall further adjust the |
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| 18 | 18 | | 3minimum residential factor of the city of Boston determined under said section lA of said chapter |
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| 19 | 19 | | 458 for fiscal years 2025, 2026, 2027 and 2028, if adoption of such factor for any such year would |
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| 20 | 20 | | 5result in the residential property class bearing a higher percentage of the total property tax levy |
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| 21 | 21 | | 6than the percentage of the total property tax levy imposed on the residential property class than |
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| 22 | 22 | | 7in the prior fiscal year. The new minimum residential factor for such year shall be: (i) for fiscal |
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| 23 | 23 | | 8year 2025, 45 per cent subject to such adjustment upward as may be required to provide that the |
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| 24 | 24 | | 9percentage of the total tax levy imposed on any class of real or personal property shall not |
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| 25 | 25 | | 10exceed 200 per cent of the full and fair cash valuation of the taxable property of the class divided |
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| 26 | 26 | | 11by the full and fair cash valuation of all taxable real and personal property in the city of Boston; 2 of 3 |
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| 27 | 27 | | 12(ii) in fiscal year 2026, 47 per cent subject to such adjustment upward as may be fiscal year |
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| 28 | 28 | | 132026, 47 per cent subject to such adjustment upward as may be required to provide that the |
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| 29 | 29 | | 14percentage of the total tax levy imposed on any class of real or personal property shall not |
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| 30 | 30 | | 15exceed 197 per cent of the full and fair cash valuation of the taxable property of the class divided |
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| 31 | 31 | | 16by the full and fair cash valuation of all taxable real and personal property in the city of Boston; |
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| 32 | 32 | | 17(iii) in fiscal year 2027, 49 per cent subject to such adjustment upward as may be required to |
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| 33 | 33 | | 18provide that the percentage of the total tax levy imposed on any class of real or personal property |
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| 34 | 34 | | 19 shall not exceed 190 per cent of the full and fair cash valuation of the taxable property of |
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| 35 | 35 | | 20the class divided by the full and fair cash valuation of all taxable real and personal property in |
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| 36 | 36 | | 21the city of Boston; (iv) in fiscal year 2028, 50 per cent subject to such adjustment upward as may |
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| 37 | 37 | | 22be required to provide that the percentage of the total tax levy imposed on any class of real or |
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| 38 | 38 | | 23personal property shall not exceed 183 per cent of the full and fair cash valuation of the taxable |
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| 39 | 39 | | 24property of that class divided by the full and fair cash valuation of all taxable real and personal |
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| 40 | 40 | | 25property in the city of Boston; (v) in fiscal year 2029 and thereafter, the determination of the |
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| 41 | 41 | | 26minimum residential factor shall be conducted in accordance with the provisions detailed in |
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| 42 | 42 | | 27section IA of chapter 58. Payments made under section 38H of chapter 59 of the General Laws, |
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| 43 | 43 | | 28and similar provisions of special acts, that are included in the tax levy for purposes of |
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| 44 | 44 | | 29determining the minimum residential factor under said section 1A of said chapter 58 shall be so |
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| 45 | 45 | | 30included in the determination of any factor under this section. |
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| 46 | 46 | | 31 SECTION 2: (a) The city of Boston may elect to apply the original identified schedule or |
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| 47 | 47 | | 32an alternative implementation schedule where the original years of 2025, 2026, 2027, 2028 and |
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| 48 | 48 | | 332029 would be substituted with (i) 2026, 2027, 2028, 2029, 2030 respectively, or (ii) 2027, 2028, |
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| 49 | 49 | | 342029, 2030, 2031 respectively. 3 of 3 |
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| 50 | 50 | | 35 (b) The schedule election in subsection (a) would be made upon notification to the |
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| 51 | 51 | | 36department of revenue during the rate setting process of the first year of the schedule that the city |
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| 52 | 52 | | 37of Boston is electing to implement. Once a schedule selection is made it may not be changed. |
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