Bill > H2920

This bill aims to address the property tax classification in cities and towns in Massachusetts. It requires the Commissioner of Revenue to adjust the minimum residential factor for fiscal years 2022 to 2026 to ensure that the residential property class does not bear a higher percentage of the total property tax levy than the prior fiscal year. The bill also directs the Department of Revenue to study the current property tax classification system and explore sustainable and equitable methods to address the divergence in residential and commercial/industrial property values. Additionally, the Joint Committee on Revenue is tasked with studying and recommending targeted property tax relief for businesses disproportionately impacted by dual tax rates, while the Joint Committee on Environment, Natural Resources and Agriculture is required to examine the reclassification of agricultural and horticultural land for property tax purposes.

Budget and Finance

https://malegislature.gov/Bills/192/H2920