Bill > H4805

This bill aims to regulate the property tax classification limits in the City of Boston beginning in fiscal year 2025. It requires the Commissioner of Revenue to further adjust the minimum residential factor for the city for fiscal years 2025 to 2028 to ensure that the residential property class does not bear a higher percentage of the total property tax levy than in the prior fiscal year. The bill sets specific minimum residential factors for these years, subject to further adjustments to ensure that the percentage of the total tax levy imposed on any class of real or personal property does not exceed certain thresholds. The City of Boston is also given the option to elect an alternative implementation schedule, starting in fiscal year 2026 or 2027 instead of 2025.