Bill > S1930

This bill allows cities and towns in Massachusetts to impose a local affordable housing surcharge of up to 2% on real estate property taxes, subject to specific conditions and voter approval. The surcharge can only be implemented after a two-thirds vote by the local appropriating authority and approval by voters at a municipal or state election. The bill provides several important provisions: it ensures that existing property tax exemptions and abatements remain intact, with proportional reductions for those receiving other tax relief; allows local authorities to create additional exemptions for low-income residents, seniors, and certain commercial properties; and mandates that all funds collected through the surcharge be deposited into a local affordable housing trust. The surcharge will not be included in calculating total property taxes, and any unpaid amounts will accrue interest. Municipalities can revoke or amend the surcharge, but no more than once in a 12-month period. The tax collector will be responsible for collecting the surcharge and maintaining appropriate financial records, and standard property tax collection remedies will apply to the surcharge. The legislation aims to provide local governments with a mechanism to generate additional funds specifically dedicated to affordable housing initiatives.

Budget and Finance

https://malegislature.gov/Bills/194/S1930