Bill

Bill > H3803


MA H3803

Establishing a study to examine lost municipal real estate tax revenue


summary

Introduced
05/20/2021
In Committee
04/07/2022
Crossed Over
Passed
Dead
12/31/2022

Introduced Session

192nd General Court

Bill Summary

By Ms. Robinson of Framingham, a petition of Maria Duaime Robinson and others that the Department of Revenue study the annual loss of municipal tax revenue resulting from tax exemptions on real property assessed at a value of one million dollars or more. Revenue.

AI Summary

This bill requires the Department of Revenue to conduct a study examining the annual loss of municipal tax revenue resulting from tax exemptions on real property assessed at a value of $1 million or more. The study will calculate the annual loss of tax revenue by each municipality, including from state-owned properties and properties eligible for payments in lieu of taxes. The Department must submit a report of its findings and recommendations to the legislature within 6 months of the end of the 2022 fiscal year, and revise the report every 5 years. The bill also requires municipalities to assess the value of all tax-exempt real property for the 2022 fiscal year and every 5 years thereafter, and submit the assessments to the Department for the purposes of this study.

Committee Categories

Budget and Finance

Sponsors (7)

Last Action

No further action taken (on 01/03/2023)

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