Bill > H2700

This bill provides for property tax relief for small business owners in Massachusetts. It proposes to amend Chapter 59 of the General Laws to allow cities and towns to grant a property tax exemption of up to 10% of the average assessed value of all class 3 (commercial) property, but only for properties owned and occupied by businesses that employed 50 or fewer people in the previous year and have an assessed valuation below $1 million. The exemption would be borne by the combined value of all class 3 commercial property. The bill also amends Chapter 151A to require the director of the Division of Employment and Training to provide a confidential list of all employers with 50 or fewer employees to the local assessors for the purpose of determining eligibility for this property tax exemption.

Budget and Finance

https://malegislature.gov/Bills/193/H2700