summary
Introduced
01/22/2019
01/22/2019
In Committee
01/22/2019
01/22/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
Relative to the amount and valuation for eligibility for a tax exemption on commercial property. Revenue.
AI Summary
This bill proposes to amend Section 5I of Chapter 59 of the General Laws in Massachusetts. The key provisions are:
1. It changes the tax exemption limit on commercial property from not more than 10% of the value of the parcel to an amount accepted by the local legislative body, not to exceed 20% of the value of the parcel.
2. It changes the value limit for eligibility for the tax exemption from $1 million to an amount accepted by the local legislative body, not to exceed $4 million. This provides more flexibility for local governments to adjust the exemption thresholds based on their specific needs and economic conditions.
Committee Categories
Budget and Finance
Sponsors (5)
Last Action
Accompanied a study order, see H5080 (on 11/02/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/191/H2639 |
| Bill | https://malegislature.gov/Bills/191/H2639.pdf |
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