Bill > H2882

This bill proposes to provide tax relief to promote housing affordability in Massachusetts. It introduces a new tax credit for owners of qualified residential rental properties with units rented to qualified tenants, defined as those with incomes no greater than 70% of the area median income, individuals aged 62 or older, or households with at least one member under 18. The credit is calculated based on the difference between the maximum HOME rent limit and the actual rent charged, up to $2,000 per qualified rental unit, with a maximum of 6 units per owner. The bill also amends existing law to allow municipalities to provide up to 25% of the amount needed to redeem a parcel in tax-title property. The provisions of this bill are effective for tax years beginning on or after January 1, 2023.

Budget and Finance

https://malegislature.gov/Bills/193/H2882