1 of 1 HOUSE DOCKET, NO. 3653 FILED ON: 1/17/2025 HOUSE . . . . . . . . . . . . . . . No. 3006 The Commonwealth of Massachusetts _________________ PRESENTED BY: James Arciero _________________ To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General Court assembled: The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill: An Act relative to the valuation of long term residences. _______________ PETITION OF: NAME:DISTRICT/ADDRESS :DATE ADDED:James Arciero2nd Middlesex1/17/2025Peter Barbella1/17/2025 1 of 1 HOUSE DOCKET, NO. 3653 FILED ON: 1/17/2025 HOUSE . . . . . . . . . . . . . . . No. 3006 By Representative Arciero of Westford, a petition (accompanied by bill, House, No. 3006) of James Arciero and Peter Barbella relative to the assessed property tax valuation of certain long term residences. Revenue. [SIMILAR MATTER FILED IN PREVIOUS SESSION SEE HOUSE, NO. 2691 OF 2023-2024.] The Commonwealth of Massachusetts _______________ In the One Hundred and Ninety-Fourth General Court (2025-2026) _______________ An Act relative to the valuation of long term residences. Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows: 1 Chapter 59 of the general laws is hereby amended by inserting after section 38, as 2appearing in the 2018 official edition, the following section:- 3 Section 38 1/2 In a city or town that accepts this section, the assessed valuation of real 4property owned by a person who has occupied said property for 30 years, shall be set at the 5valuation of the property pursuant to section 38 in the thirtieth year of domicile; provided, 6however, that said owner's income shall not exceed 100 percent of the area median income as 7determined by the federal Department of Housing and Urban Development; and provided 8further, that said owner shall not have more than $100,000 in liquid assets, excluding the value 9of their domicile. Said valuation shall not increase unless and until the real property is sold or 10transferred.