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MA H4300

Relative to property tax exemptions for affordable accessory dwelling unit rental properties in the city of Salem restricted as affordable housing


summary

Introduced
12/20/2021
In Committee
03/10/2022
Crossed Over
09/12/2022
Passed
09/15/2022
Dead
Signed/Enacted/Adopted
09/26/2022

Introduced Session

192nd General Court

Bill Summary

Relative to property tax exemptions for certain affordable accessory dwelling unit rental properties in the city of Salem restricted as affordable housing. Revenue. [Local Approval Received.]

AI Summary

This bill provides property tax exemptions for certain affordable accessory dwelling unit (ADU) rental properties in the city of Salem, Massachusetts, that are restricted as affordable housing. The key provisions include: 1) exempting Affordable ADUs in Salem from taxation under Chapter 59 of the General Laws upon approval of Salem's Affordable ADU Ordinance; 2) basing the exemption on the value of the additional bedroom(s), not the entire ADU; 3) requiring property owners to submit documentation annually to confirm eligibility; 4) capping rents at 70% of the established Fair Market Rent limit for Salem; and 5) excluding households that have received a city loan for building the ADU from the tax incentive.

Committee Categories

Budget and Finance

Sponsors (2)

Last Action

Signed by the Governor, Chapter 221 of the Acts of 2022 (on 09/26/2022)

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