Bill > H3191

This bill modifies Section 14 of Chapter 183A of the Massachusetts General Laws regarding the taxation of condominiums, specifically addressing how portions of common areas with reserved rights by a declarant (the original developer) will be assessed for tax purposes. Under the proposed changes, if a declarant has reserved the right to add or withdraw real estate from a condominium development, the board of assessors can separately assess that portion of the common area at its land value prior to recording the master deed, minus the value of any separately taxed improvements. The tax lien for such an assessment would attach to the reserved right, but not to the common areas themselves. If the reserved right expires or is extinguished, any previous tax assessments would transfer to newly submitted condominium units, but not to units that already had separate property tax assessments in the same fiscal year. Additionally, once a reserved right expires, it cannot be further assessed for taxes, unless the right is extended, revived, or granted by the organization of unit owners, in which case it would then be subject to taxation after being recorded or registered.

Budget and Finance

https://malegislature.gov/Bills/194/H3191