Bill > H2857

This bill provides for regional assessment values for the Beverly airport land located in the town of Danvers. The key provisions are as follows: 1. The city of Beverly shall annually pay the town of Danvers an amount equal to the average of the assessed taxable valuations of the land, excluding buildings or other structures, with any abatements factored in. If the land was not separately assessed or was exempt from taxation, the fair cash value shall be deemed the assessed valuation. 2. The payments made by the city of Beverly to the town of Danvers shall not be less than the previous year's payment when the town undergoes a general revaluation of its real property. 3. When the town of Danvers is certified as assessing property at full and fair cash valuation, the valuation of the airport land shall be determined by the town's assessors and used for the purpose of payments authorized by this act. 4. The city of Beverly can appeal the assessors' determination to the Appellate Tax Board if aggrieved. 5. Revenue received for land used for the airport's take-off, landing, and related purposes shall not be deemed rent or revenue in the nature of rent within the meaning of this section.

Budget and Finance

https://malegislature.gov/Bills/193/H2857