Bill > H2988

This bill aims to provide economic recovery support for small businesses in Massachusetts. It would allow cities and towns to grant a property tax exemption of up to 20% of the value of commercial properties occupied by qualifying small businesses. To qualify, a business must have its principal place of business in Massachusetts, employ 50 or fewer full-time employees at a single location, and have gross revenues of $10 million or less in the prior fiscal year. The value of these exemptions would be borne by the combined value of commercial and industrial properties in the city or town. Taxpayers aggrieved by the failure to receive the exemption can apply to the assessors, and their application will be treated as timely filed under the existing property tax exemption process.

Budget and Finance

https://malegislature.gov/Bills/192/H2988