Bill > H5099

This bill aims to adjust the minimum residential factor for the city of Boston's property tax classification in fiscal years 2025 to 2027, to ensure that the residential property class does not bear a higher percentage of the total property tax levy than the prior fiscal year. The bill also allows the city of Boston to exempt up to $30,000 in personal property value from taxation and authorizes the city to spend up to $15 million to support small businesses impacted by the shift in the tax levy on commercial property. The bill provides specific details on the maximum percentage of the total tax levy that can be imposed on any class of real or personal property in the city of Boston during this period.