Bill > H5114

This bill proposes several changes to property tax classification in the city of Boston. Specifically, it allows the Commissioner of Revenue to adjust the minimum residential factor for fiscal years 2025-2027 to ensure the residential property class does not bear a higher percentage of the total property tax levy than in the prior year. It also allows the city of Boston to exempt up to $30,000 in personal property value from taxation and to spend up to $15 million annually to support small businesses when the commercial property tax levy exceeds 175% of the commercial property's full and fair cash valuation.