Bill > H2569

This bill amends Section 14 of Chapter 183A of the General Laws in Massachusetts, which pertains to the taxation of condominiums. The key provisions are: 1) Any portion of the common area and facilities for which the declarant (the party that created the condominium) has reserved the right to add or withdraw real estate may be separately assessed at the discretion of the board of assessors, with the value equal to the land value prior to the recording of the master deed minus the value of any separately taxed improvements; 2) The lien for these taxes attaches to the reserved right, not the common areas and facilities; 3) Once the reserved right expires or is extinguished, the lien for the taxes previously assessed to the declarant or successor attaches to any units submitted to condominium status after the assessment of the right, but not to units against which property taxes were separately assessed in the same fiscal year; and 4) No reserved right shall be assessed and taxed after it expires or is otherwise extinguished, unless it is extended, revived, or granted by the organization of unit owners under Section 5.

Budget and Finance

https://malegislature.gov/Bills/191/H2569