Bill > H2824

This bill proposes to provide property tax relief for small business owners in Massachusetts. It amends Chapter 59 of the General Laws to allow cities and towns the option to grant a property tax exemption of up to 10% of the average assessed value of all class 3 commercial property, but only for properties owned and occupied by businesses that employed 50 or fewer people in the previous year and have an assessed valuation below $1 million. Additionally, the bill requires the director of the Division of Employment and Training to provide a confidential list of such small employers to the local assessors each year to help determine eligibility for this exemption.