Massachusetts 2023-2024 Regular Session

Massachusetts House Bill H5099 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	1 of 1
2	2	HOUSE DOCKET, NO. 5470 FILED ON: 11/4/2024
3	3	HOUSE . . . . . . . . . . . . . . . No. 5099
4	4	The Commonwealth of Massachusetts
5	5	_________________
6	6	PRESENTED BY:
7	7	Rob Consalvo
8	8	_________________
9	9	To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
10	10	Court assembled:
11	11	The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:
12	12	An Act relative to property tax classification in the city of Boston.
13	13	_______________
14	14	PETITION OF:
15	15	NAME:DISTRICT/ADDRESS :DATE ADDED:Rob Consalvo14th Suffolk11/4/2024 1 of 3
16	16	HOUSE DOCKET, NO. 5470 FILED ON: 11/4/2024
17	17	HOUSE . . . . . . . . . . . . . . . No. 5099
18	18	By Representative Consalvo of Boston, a petition (subject to Joint Rule 12) of Rob Consalvo
19	19	(with the approval of the mayor and city council) relative to property tax classification in the city
20	20	of Boston. Revenue. [Local Approval Received.]
21	21	The Commonwealth of Massachusetts
22	22	_______________
23	23	In the One Hundred and Ninety-Third General Court
24	24	(2023-2024)
25	25	_______________
26	26	An Act relative to property tax classification in the city of Boston.
27	27	Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority
28	28	of the same, as follows:
29	29	1 SECTION 1: Notwithstanding section 1A of chapter 58 of the General Laws or any other
30	30	2general or special law to the contrary, the commissioner of revenue shall further adjust the
31	31	3minimum residential factor of the city of Boston determined under said section 1A of said
32	32	4chapter 58 for fiscal years 2025, 2026, and 2027, if adoption of such factor for any such year
33	33	5would result in the residential property class bearing a higher percentage of the total property tax
34	34	6levy than the percentage of the total property tax levy imposed on the residential property class
35	35	7than in the prior fiscal year. The new minimum residential factor for such year shall be (a) for
36	36	8fiscal year 2025, 50 per cent subject to such adjustment upward as may be required to provide
37	37	9that the percentage of the total tax levy imposed on any class of real or personal property shall
38	38	10not exceed 181.5 per cent of the full and fair cash valuation of the taxable property of the class
39	39	11divided by the full and fair cash valuation of all taxable real and personal property in the city of
40	40	12Boston, (b) in fiscal year 2026, 50 per cent subject to such adjustment upward as may be
41	41	13required to provide that the percentage of the total tax levy imposed on any class of real or 2 of 3
42	42	14personal property shall not exceed 180 per cent of the full and fair cash valuation of the taxable
43	43	15property of the class divided by the full and fair cash valuation of all taxable real and personal
44	44	16property in the city of Boston, (c) in fiscal year 2027, 50 per cent subject to such adjustment
45	45	17upward as may be required to provide that the percentage of the total tax levy imposed on any
46	46	18class of real or personal property shall not exceed 178 per cent of the full and fair cash valuation
47	47	19of the taxable property of the class divided by the full and fair cash valuation of all taxable real
48	48	20and personal property in the city of Boston, (d) in fiscal year 2028 and thereafter, the
49	49	21determination of the minimum residential factor shall be conducted in accordance with the
50	50	22provisions detailed in section 1A of chapter 58. Payments made under section 38H of chapter 59
51	51	23of the General Laws, and similar provisions of special acts, that are included in the tax levy for
52	52	24purposes of determining the minimum residential factor under said section 1A of said chapter 58
53	53	25shall be so included in the determination of any factor under this section.
54	54	26 SECTION 2: (a) Notwithstanding section 5 of chapter 59 of the General Laws or any
55	55	27other general or special law to the contrary, the city of Boston shall be permitted to allow for an
56	56	28exemption from taxation of personal property not in excess of $30,000 of value.
57	57	29 (b) The city council of the city of Boston shall vote to establish a minimum value of
58	58	30personal property subject to taxation. Said value shall be subject to limitation pursuant to
59	59	31subsection (a).
60	60	32 SECTION 3: Notwithstanding the provisions of chapter 30B of the General Laws, or any
61	61	33other general or special law, the city of Boston, for each fiscal year in which the total tax levy
62	62	34imposed on the class of commercial property exceeds one hundred seventy five per cent of the
63	63	35full and fair cash valuation of the taxable property of the class of commercial property divided by 3 of 3
64	64	36the full and fair cash valuation of all the taxable real and personal property in the city of Boston,
65	65	37shall be authorized to expend up to fifteen million dollars to award grants and provide programs
66	66	38for the purpose of supporting small businesses impacted by the shift of the tax levy beyond the
67	67	39aforementioned one hundred seventy five per cent. The term “small business” as used in this
68	68	40section shall mean a business with its principal place of business located in Boston, with fewer
69	69	41than fifty employees or less than five million dollars in annual revenue.